Asia/Pacific News
Chimbusco To Supply Bonded 500 cSt at Qingdao This Year
China Marine Bunker (PetroChina) Co (Chimbusco) this year will begin supply of 500 cSt bonded bunker fuel at Qingdao port, a market source has told C1 Energy.
According to the report, Chimbusco has already shipped "several thousand tonnes" of 500 cSt fuel oil to Qingdao, and aims to be the first supplier to offer the bonded product at northern Chinese ports.
Demand for 500cst fuel oil was said to have been growing recently, and a bonded bunker supplier was quoted as saying that over 200,000 tonnes a year is now sold in total across the ports of Shenzhen and Yangshan in Shanghai.
The growth in popularity of 500 cSt was attributed in part to widening price differences between 380 cSt and 500 cSt fuel oil.
The product is also popular elsewhere, and according to official data from Maritime and Port Authority of Singapore (MPA), since 2006, 500 cSt has been the second most popular grade of marine fuel at the port, after IFO380.
Last year Maersk Line said that it became the first ever carrier to reach a throughput of one million twenty-foot equivalent units (TEU) in Qingdao in a single year.
