China's Zhoushan port supplies 3.26 mil mt bonded bunker fuels over Jan-Sep, up 18% on year
14th October 2020 21:23 GMT

China's developing bunkering hub of Zhoushan port supplied 3.26 million mt of bonded bunker fuels over January to September, rising 17.7% year on year, the Zhoushan Marine Fuel Association said Oct. 14.

Zhoushan-based bunkering sources said the volumes include both bunker fuel oil and marine diesel oil.

The association attributed the increase in volume to price competitiveness compared to the Asia's key bunkering port of Singapore since late-August.

According to S&P Global Platts data, delivered 0.5%S Marine Fuel bunker at Zhoushan averaged $319/mt in September, compared to an average of $322.86/mt in Singapore.

Bunker fuel sales at Zhoushan have also benefited from the quarantine rule in Hong Kong that have driven demand from ships seeking bunker-only calls away from there, market sources said.

The Zhoushan provincial government has also taken great measures to promote Zhoushan's attractiveness as a bunkering port.

Some of these include integrating the operations of anchorages which have increased efficiency and reduced waiting time for anchored vessels. Barges that were specifically designed to meet Zhoushan port's unique sea conditions and environment were also put into operation.

The customs and border inspection departments have also further simplified the boarding procedures, and ensured a smooth process of tax-rebate claims and futures delivery of low sulfur fuel oil, the association added.

Located in the eastern part of China Zhejiang Pilot Free Trade Zone, Zhoushan targets to supply 5 million mt of bunker fuels in 2020, and aims to breach the 10 million mt mark in 2025, according to documents released by Zhoushan City Council and Zhejiang Provincial Government.

Bunkerworld .,
14th October 2020 21:23 GMT