- Sales of marine fuel from the Chinese port of Zhoushan, the country’s top supplier of shipping fuel, in first nine months of 2020 rose nearly 18% from a year earlier.
- Zhoushan supplied 3.26 million tonnes of bonded marine fuel from January to September, the official said, declining to be identified since he is not a spokesman.
- China aims to build Zhoushan, an archipelago city in east China’s Zhejiang province, into a regional ship fuel hub to rival Singapore as the world’s largest shipping or fuel centre.
Marine fuel sales from China’s Zhoushan rise 18% in Jan-Sept, says a Reuters news report.
Sulfur content capped
Chinese refineries began in January supplying VLSFO, with sulfur content capped at 0.5%, to the bonded marine fuel market along the country’s coast, after Beijing offered tax incentives to boost local production.
VSLFO exports increase
VSLFO exports in August rose to 1.62 million tonnes, the highest this year, Chinese customs data showed last month.
Chinese oil refineries
According to Chinese commodities consultancy JLC, Chinese oil refineries produced over 5 million tonnes of VLSFO between January and August, with the annual volume likely to hit 9 million tonnes.
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Source: Reuters
