Zhoushan Port in Zhoushan, East China's Zhejiang province, supplied 3.26 million metric tons of bonded oil in the first nine months of this year, a year-on-year increase of 17.7 percent, local media reported.

Despite the COVID-19 pandemic and an uncertain international economic situation and shipping market, Zhoushan led other ports in China in terms of bonded marine fuel oil.

Four major anchorage grounds in Zhoushan – Tiaozhoumen, Xiazhimen, Mazhi, and Xiushandong – refueled 1,790 international ships with 1.36 million tons of bonded oil, accounting for 43 percent of the total supply in Zhoushan Port, in the Jan-Sept period.

During this same period, shipbuilding plants and shipyards in Zhoushan supplied 600,000 tons of bonded oil, a year-on-year increase of 16 percent, and eight municipally licensed oil suppliers offered 870,000 tons of bonded oil, accounting for 27 percent of the total amount.

Zhoushan Port attracted an increased number of ships operating along Northeast Asian routes looking to refuel, as the price of marine fuel oil in Zhoushan has been reduced and demand in the fuel market has increased.

Since August, low sulphur marine fuel oil in Zhoushan has been priced at $319.11 per ton, while in Singapore it is priced at $321.65.

Moreover, Zhoushan government departments have introduced preferential policies and innovative measures to support the development of bonded marine fuel oil suppliers in the city.

For example, customs and border control departments have streamlined boarding procedures and increased the speed of tax reimbursements for low sulphur marine fuel oil exports.

Zhoushan Port in Zhoushan, East China's Zhejiang province, supplies 3.26 million tons of bonded oil in the first nine months of this year. [Photo/WeChat account: china-zjftz]