14.9 C
Monday, June 21, 2021
Home The Weekly 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.

Latest Posts

ONE partners with Rutgers Business School

Ocean Network Express (ONE) has entered into a partnership with Rutgers Business School (RBS) in June 2021 to gain direct outreach to RBS' academic resources...

Mitsubishi HC Capital buys CAI International

US-based container lessors CAI International and Beacon Intermodal Leasing have come under the same ownership, after Japanese leasing group Mitsubishi HC Capital acquired CAI...

Hamburg Süd vessel hits ferry pier in Santos

The 11,503TEU container ship, Cap San Antonio, crashed into a ferry pier in the Port of Santos in Brazil on 20 June. The floating...

Ports of Auckland halts automated operations due to software malfunction

An incident in the automated area of the Ports of Auckland (POAL) has forced New Zealand's port to temporarily expand manual operations at the...

MOL towards a greener future

Mitsui OSK Lines has announced the establishment of "MOL Group Environmental Vision 2.1" as a guide to achieve net zero greenhouse gas emissions by...