Tokyo, Japan / Beijing, China – June, 2025, Marubeni Corporation (Marubeni) has officially announced the signing of a Strategic Partnership Agreement with SINOPEC FUEL OIL SALES CO., LTD. (SINOPEC FUEL OIL), a key subsidiary of China Petroleum & Chemical Corporation (Sinopec Group), marking a major step forward in advancing collaboration in the global marine fuel business.
This agreement builds upon more than a decade of partnership and aligns both companies to tackle evolving demands in the maritime fuel market, particularly as the industry transitions toward decarbonization and alternative fuels.
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Signing Ceremony Held in Beijing
A signing ceremony took place to commemorate the new partnership. Representing Marubeni was Mr. Keiichi Tochimoto, General Manager of the Petroleum & LPG Trading Department, and from SINOPEC FUEL OIL, Mr. Xu Tao, Deputy General Manager. The ceremony symbolized a deepening of trust and shared commitment between the two organizations.
Responding to a Shifting Global Maritime Landscape
The strategic partnership comes at a time when the maritime industry is facing transformative challenges. With the International Maritime Organization (IMO) targeting net-zero greenhouse gas (GHG) emissions by around 2050, global shipping is experiencing a major shift in energy demand—from traditional fuels to cleaner alternatives such as biofuels, liquefied natural gas (LNG), and methanol.
In response, Marubeni and SINOPEC FUEL OIL aim to play a leading role in building the next-generation marine fuel supply chain, one that meets both current demand and future environmental standards.
A Decade of Collaboration, Now Strengthened
Since initiating cooperation in 2010, Marubeni and SINOPEC FUEL OIL have steadily expanded their relationship. In 2019, the companies signed a Memorandum of Understanding (MoU) to deepen cooperation in the marine fuels sector. Through this alliance, Marubeni became the exclusive distributor of SINOPEC’s marine fuels for Japanese shipowners at major Chinese ports.
Thanks to this arrangement, the companies have successfully co-developed new bunkering hubs and built a robust logistical network—making Marubeni the leading marine fuel supplier to Japanese vessels operating in China.
Strategic Expansion into Future Fuels
The newly signed Agreement goes beyond traditional marine fuels. Marubeni and SINOPEC FUEL OIL are now poised to explore and develop joint capabilities in low-carbon and alternative fuels, including:
- Biofuels
- Liquefied Natural Gas (LNG)
- Methanol
This initiative will leverage Marubeni’s global trading and logistics expertise alongside SINOPEC’s production and supply capacity to create a sustainable, reliable, and scalable fuel network for the maritime sector.
Moreover, the Agreement sets the stage for both parties to expand their services beyond the Chinese market, targeting growth opportunities across Asia and other international shipping corridors, as global demand for alternative fuels accelerates.
Looking Ahead: Sustainability and Supply Stability
Marubeni emphasizes that this partnership will enhance its ability to provide stable, high-quality marine fuel supply solutions that align with the evolving needs of global shipping companies. The company reaffirms its commitment to:
- Supporting the sustainable growth of the maritime industry
- Contributing to international decarbonization goals
- Delivering value-added services to its customers through innovation and strategic alliances
This Agreement also demonstrates Marubeni’s ongoing investment in energy transition strategies and its leadership in forging cross-border alliances that facilitate a cleaner and more efficient maritime future.
About SINOPEC FUEL OIL SALES CO., LTD
SINOPEC Fuel Oil Sales Co., Limited (Sinopec Fuel Oil) is a wholly-owned subsidiary of China Petroleum and Chemical Corporation (SINOPEC Corp.). The company was registered and incorporated on May 27, 2010, and is responsible for the unified operation and management of SINOPEC’s fuel oil business. With a focus on providing high-quality oil products and services to both domestic and international trading vessels, SINOPEC Fuel Oil is committed to becoming a world-class bunkering company.
Headquartered in Beijing, the company operates a network of seven branches across key locations in China—Tianjin, Shandong, Jiangsu, Shanghai, Zhejiang, Fujian, and Guangdong—as well as wholly-owned subsidiaries in Zhoushan (Zhejiang Province) and Singapore. The company also actively develops domestic onshore terminal sales, refining raw material supply operations, and coordinates international trade, with a total operating volume of 25 million tons and a sales scale of 120 billion RMB.
About Marubeni Corporation
Marubeni Corporation (TSE securities code: 8002) is one of Japan’s leading sogo shosha (general trading companies), with a legacy of over 165 years in global commerce. Headquartered in Tokyo, Marubeni operates a vast international network of 130 branches and offices worldwide, reflecting its dynamic and diversified global presence.
With a workforce of more than 50,000 employees across its Group companies, Marubeni engages in an extensive range of businesses spanning multiple sectors. These include; Food & Agri Business, Metals & Mineral Resources, Energy & Chemicals, Power & Infrastructure Services.
Marubeni’s operations encompass the import and export of goods, domestic Japanese market transactions, and global investments, development, and asset management, delivering integrated solutions across the entire value chain.
Driven by its forward-looking vision—the Global Crossvalue Platform—Marubeni is committed to creating innovative, cross-sectoral value by dismantling traditional industry silos and harnessing the full potential of its group-wide capabilities. This approach enables Marubeni to anticipate future challenges, deliver transformative solutions, and contribute to sustainable progress around the world.
Source Marubeni Corporation