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Zhoushan area of Zhejiang FTZ targets intl maritime service base

Updated : 2022-04-02 (chinadaily.com.cn)

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File photo: A fuel ship refuels an international ship at Zhoushan Port. [Photo/WeChat account: zjzsrbs]

The Zhoushan area of the China (Zhejiang) Pilot Free Trade Zone has been focusing on the development of the maritime service industry since its founding in 2017.

Eight sectors of the maritime service industry, including bunker oil supply, international ship service, and ship maintenance and trading, in the city boast strong competitiveness in the world.

The bonded oil supply amount at Zhoushan Port increased from 1.82 million metric tons in 2017 to 5.52 million tons last year, making it the sixth largest bunkering port in the world.

The Zhoushan area currently houses 18 bonded oil suppliers, including the Global Bunker Oil Supply Business Center of Sinopec.

The annual output value of supplies provided to international ships at Zhoushan Port grew from $465 million to $3.09 billion over the past five years, making it the world's third largest replenishment port.

The international ship repair and maintenance sector in the city generated 6 billion yuan ($943 million) in 2021, 2.6 billion yuan more than in 2017 and accounting for about 50 percent of the country's total.

In addition, Zhoushan traded 6.18 billion yuan worth of shipping vessels last year, almost doubling the value in 2017 and accounting for one third of the total in China.

The city is currently home to 1,184 maritime service suppliers, including 429 companies brought in from 2017 to 2021. Last year, the maritime service industry in the city generated 36 billion yuan in revenue.