The General Administration of Customs, China in early November said 35,000 metric tonnes (mt) of Tianjin -blended bunker fuel was loaded from the state-owned Sinochem Tianjin Port Petrochemical Warehouse onto its Lipingtan tanker to be exported to the Yangtze Delta in the south.
This marks the official entry of bunker fuel produced in Tianjin into the international export market in the south as it was previously only exported to ports in the northern region, said the General Administration of Customs.
The process of loading the fuel onto the tanker through the company’s purpose-built pipeline took about 40 hours; Lipingtan set sail for the Shanghai Yangshan Port Warehouse to distribute the product as bunkers onto international ships in the Yangtze Delta.
In early 2020, China’s Ministry of Finance, the State Administration of Taxation, and the General Administration of Customs jointly issued an announcement to implement an export tax rebate for marine fuel oil that qualifies international export requirements.
In order to support companies who are looking to benefit from the policy, Tianjin Customs took an active role to increase the rate of approval and efficiency of qualifying procedures.
In May, it supported Tianjin China Combustion Marine Fuel Oil Co Ltd to establish two 60,000 cubic meter export warehouses for marine fuel so that low-sulphur bunker fuel produced at Tianjin’s local refineries can be exported.
The first batch of Sinochem Tianjin-blended low sulphur bunker fuel was produced in early July and supplied to international ships at Tianjin Port. Since then, refineries in the region including PetroChina and Sinopec have produced 208,000 mt of low-sulphur marine for the Beijing-Tianjin-Hebei region.
Moving forward, Sinochem Tianjin estimates that 30,000 mt of marine fuel oil will be exported monthly to the Yangtze Delta in the south.
Photo credit: General Administration of Customs, China
Published: 18 November, 2020
‘We need to keep in mind the saying “penny wise pound foolish”,’ says Captain Rahul Choudhuri, the Managing Director AMEA at VPS, who stresses on the essential role of the Bunker Surveyor.
Legal representatives met at the High Court on Tuesday to discuss the discharge of KPMG liquidators from all liability in respect of conduct in the course of winding up, show court documents.
Global sentence adjusts to 80 month’s imprisonment term for both Chang and Koh under application of the Masui sentencing framework; fine of SGD 6.2 million against Chang remains unchanged.
Company has been ranked EIGHTH for 2020; ‘we are humbled and proud to be placed amongst the top ten winners of the Enterprise 50 Awards,’ says Satnam Singh, COO, Sing Fuels.
Mads Bjornebye, Manager of Bunker Services at Teekay Tankers Ltd, shares about the company’s perspective of e-BDNs, bunker purchasing & planning tools, while offering his thoughts on future marine fuels.
Maritime sector may find it increasingly challenging to manage bunker prices, Dennis Ho, Managing Director at ElbOil Singapore tells Singapore bunkering publication Manifold Times.