The Zhoushan Marine Fuel Association announced a significant milestone for Zhoushan, a prominent bunkering port in China, as it reached 7.05 million metric tonnes (mt) of bonded bunker fuel Sales in 2023. This achievement marks a remarkable 16.95% year-on-year increase, firmly establishing Zhoushan as the top bunkering port in China and positioning it to rival Fujairah, the world’s third largest bunkering hub.
The association attributed this milestone to Zhoushan’s steadfast commitment to developing the bunkering industry, implementing reforms, fostering innovation in response to market demands, and proactive efforts to enhance infrastructure.
One of Zhoushan’s key developments includes expanding its bunkering categories, notably implementing the country’s first offshore anchorage LNG bunkering and anchorage container ship biofuel bunkering, thus becoming the first port in China with capabilities to refuel multiple bunker fuel types.
Efforts to extend bunkering operation time and improve efficiency at Xiu Shandong Anchorage resulted in a significant increase in bunker fuel supply volume, reaching 722,700 mt with a year-on-year increase of 115%. Presently, Zhoushan boasts more than 20 anchorages forming a comprehensive connection layout.
Further enhancements include the introduction of advanced bunkering vessels, with nine “Zhoushan ship type” bunkering vessels now in operation. Recently launched, the “Zhoushan ship type” version 2.0 promises improved wind and wave resistance, allowing for oil supply under higher wave height conditions in outer anchorages.
Additionally, Zhoushan has augmented its bunkering supervision systems and welcomed new players into the market, creating a diversified competitive landscape comprising state-owned, private, and foreign capital companies. The total number of bunker fuel supply companies in Zhoushan has reached 19, with licensed companies adding 3.1839 million mt of bunker fuel in 2023, representing a 24.77% year-on-year increase.
Bonded bunker fuel sales at Zhoushan rose 9.1% year on year to total 6.025 million mt in 2022, aligning with China’s ambitions to expand the port as Asia’s key bunker hub, before Zhoushan supplied 5.52 million mt of bonded bunker fuel in 2021, rising 16.9% from 4.72 million mt in 2020, showed data from the Zhoushan Bonded Bunker Fuel Association.
Furthermore, Zhoushan has taken proactive steps to establish benchmarks for the country’s bonded bunker fuel market prices, ensuring transparency and stability. Initiatives such as the “China Zhoushan Low-Sulphur and High-Sulphur Fuel Oil Bonded Ship Supply Quotation” and others are set to bolster Zhoushan’s position as a leading bunkering hub.
The association’s announcement underscores Zhoushan’s burgeoning stature in the global bunkering arena, signaling its trajectory towards further growth and consolidation as a key player in maritime and bunker suppliers.
Source Zhoushan Marine Fuel Alliance