Asia/Pacific News
China Seeks to Develop 1 Million Mt/Year Alternative Bunker Market in Shanghai
China is reportedly seeking to develop a an alternative bunker market in Shanghai.
China is targeting low-carbon bunker supply of at least 1 million mt/year in Shanghai by 2030, news agency Bloomberg reported, citing comments from the city's authorities.
China's bunker sales have grown rapidly in recent years since a change in taxation on VLSFO, and Zhoushan in particular has expanded significantly as a bunkering hub.
Last year's sales at Zhoushan totaled 7.04 million mt -- almost matching Fujairah, the world's third-largest bunkering port -- up from just 1.06 million mt in 2016, a local source told Ship & Bunker last month.
China plans to create a unified bunker supply market in the Yangtze River Delta with total sales of 10 million mt/year, including alternative fuels.
