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Tuesday, June 2, 2020
Home The Daily MABUX Bunker Index Sinopec sees increased bunker sales in China

Sinopec sees increased bunker sales in China

Domestic very low sulphur fuel oil (VLSFO) production has seen growth in China leading to increased bunker sales by the leading supplier Sinopec at the country’s ports, according to S&P Global Platts.

Sinopec’s bunker sales at Chinese ports are close to 4.8 million tonnes/year, while the company increased its share of the China bunker market to 40%, of the 1 million tonnes/month traded at Chinese ports, reported Platts.

The Asian giant has applied a long-awaited rebate on value added tax on fuel oil from February this year, according to Ship&Bunker.

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