An oil tanker refuels a vessel from Marshall Islands at Mazhi Anchorage in Zhoushan, Zhejiang province, on Aug 14, 2018. [Photo/IC]

The China (Zhejiang) Pilot Free Trade Zone in Zhoushan, Zhejiang province, witnessed double-digit growth in its bunker fuel supply in the first half of the year, local media reported on July 4.

Official statistics showed that Zhejiang FTZ supplied nearly 1.9 million metric tons of bunker fuel during the period, up 11.78 percent year-on-year. In particular, last month saw around 385,800 tons of bunker fuel supplied, up 7.77 percent.

Growth is, however, slower than the same period last year, largely due to sluggish global shipping trade in the first six months, plus some uncertainties in low-sulphur fuel supplies. Bunkering ports in Singapore and Rotterdam even experienced a downturn in fuel supplies. 

For the remainder of the year, Zhejiang FTZ will strengthen its efforts in promoting low-sulphur fuel supplies and maintain stable growth, local officials said. 

Zhejiang FTZ, established in April 2017, is the only free trade zone in China that comprises land areas and sea anchorage grounds. It is focused on building a complete industrial chain for oil and gas. 

Remarkable achievements have been made in this respect over the past two years. The zone has made 83 system innovations, 34 of which have not yet been seen elsewhere in China, and Zhoushan has become a top 10 global bonded bunker fuel supply port. 

As of April, Zhejiang FTZ had attracted 12,501 companies, 3,198 of which are oil-related. Oil trade in the zone totaled around 221.4 billion yuan ($32.2 billion) last year.