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Image Credit: Ship & Bunker
Repost: Chinese refiners are expected to produce more than 15 million metric tonnes (mt) of very low sulphur fuel oil (VLSFO) this year as the country allows greater competition in the marine fuel sector, Reuters reports.
Citing an industry executive, the report said that local authorities on China’s east coast have rushed to grant new licences for supplying very low sulfur fuel oil.
Speaking at a live-streamed seminar in eastern China, Qin Zhigang, a vice president of China Marine Bunker (PetroChina) Co Ltd (Chimbusco), said that China now has 30 licensed dealers of bonded marine fuel, double the number it had in 2020.
Output of VLSFO during the first seven months of this year increased by 32% on the year to 8.79 million metric tonnes, according to the report.
Singapore, the region’s biggest bunkering hub, sells around 50 million mt of bunkers annually.
Source:
Ship & Bunker
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