Bunker fuel supply in Zhoushan is expected to reach 4.7 million metric tons this year. [Photo/WeChat account: china-zjftz]

Zhoushan in East China's Zhejiang province is presently home to the largest number of oil and gas companies among all Chinese cities, and its ability to detect these resources also ranks among the best in China, local media reported on Dec 25.

The city has led China in eight sectors of the maritime service industry, including bunker fuel supply, ship maintenance and repair, ship inspection and testing, shipping agency, supplies for foreign ships, ship trading, classification society, and ship operation.

Statistics show that the city attracted more than 7,200 oil and gas companies over the past five years, including 43 Global Fortune 500 companies, with a combined annual trade volume of over 320 billion yuan ($49.06 billion).

Bunker fuel supply in Zhoushan is expected to reach 4.7 million metric tons this year, accounting for more than 30 percent of the national total. The bunker fuel supply business also leverages the city's other larger market – supplies export.

Statistics show that each ton of exported bonded bunker fuel oil in Zhoushan promoted the export of $153 worth of supplies this year, a year-on-year increase of 25.4 percent.

Zhoushan is projected to refuel 11.7 billion yuan worth of bonded bunker fuel oil this year, which will promote the export of 4.8 billion yuan worth of supplies and help the city generate 5.3 billion yuan in foreign ship repair and 5 billion yuan in ship trading.