Daishan, a county in Zhoushan, East China's Zhejiang province, was recently approved to establish its first export supervised warehouse and bonded warehouse for bunker fuel oil, local media reported on Sept 3.

The move will greatly boost the development of bonded bunker fuel oil filling services in Zhoushan.

The two warehouses are located in the first phase of the oil product storage and transportation base on Huangzeshan Island. The export supervised warehouse is capable of storing 100,000 steres of bunker fuel oil, while the storage capacity of the bonded warehouse is 630,000 steres.

An export supervised warehouse is a supervision warehouse for customs storage and delivery and offers liquidity value-added services to cargo which has finished customs procedures for export.

A bonded warehouse is a warehouse approved by the customs to store bonded goods which are temporarily exempt from import duties and import licenses.

Huangzeshan Island has a land area of 2.53 square kilometers and a coastline of 15.74 kilometers. With a total investment of 10 billion yuan ($1.46), the oil product storage and transportation base on the island is expected to have a final storage capacity of 14.5 million steres and will contain two berths capable of receiving ships weighing 300,000 metric tons or above.

The oil product storage and transportation base on Huangzeshan Island in Daishan, Zhoushan, is expected to have a final storage capacity of 14.5 million steres. [Photo/WeChat account: china-zjftz]