Zhoushan

China Reshaping Market To Become The World’s Fastest-growing Major Marine Fuel Hub

China is reshaping global shipping fuel markets by taking advantage of its booming maritime trade, says an article published in Reuters.

Reshaping global shipping fuel markets

China is reshaping global shipping fuel markets by taking advantage of its booming maritime trade and massive refining capacity to undercut rivals from Singapore to South Korea and become the world’s fastest-growing major marine fuel hub.

China’s marine fuels output surge

China’s rising influence in marine fuels, globally...

https://mfame.guru/china-reshaping-market-to-become-the-worlds-fastest-growing-major-marine-fuel-hub/

China Bunkering To Hit Rocky Roads Amid Stricter COVID-19 Restrictions

  • Operational, crew change hurdles emerge
  • China bunkering volumes to suffer on demand switch
  • Singapore offers attractive fueling alternative

Many ports in China have recently implemented a slew of additional restrictions in a bid to curb the spread of the coronavirus as cases in a few Asian countries spike, creating an element of uncertainty and sparking fears of bunkering delays for maritime participants, reports Platts.

Strict restrictions for vessel bunkering

The stricter restrictions could...

https://mfame.guru/china-bunkering-to-hit-rocky-roads-amid-stricter-covid-19-restrictions/

Key Indicators in the Asia Residual Fuel Market This Week

Singapore’s bunker suppliers said on May 31 they were expecting to see a slight recovery in demand for low sulfur fuel oil in June, as Singapore’s delivered prices have fallen back below those in the Chinese port of Zhoushan since mid-May, reports Platts.

“The segment of dry bulk vessels and tankers running fixed routes would at least make up the base demand,” a Singapore-based trader said.

“However, oversupply [of marine fuel 0.5%] in China remains a concern,” he added.
High sulfur fuel oil...

https://mfame.guru/key-indicators-in-the-asia-residual-fuel-market-this-week/

KPI Oceanconnect Exhibits “Clear Hunger” for More Acquisitions

  • China’s bunker fuel market becoming more competitive
  • Liquidity pressure to spur industry consolidation globally
  • IMO 2020 transition paves way to expedite shipping’s decarbonization goals

Marine fuel sales worldwide in 2021 will likely grow by 3%-5% compared to 2019 as demand returns despite the challenges posed by the global coronavirus pandemic, with KPI OceanConnect poised to seek expansion opportunities worldwide, according to Soren Holl, CEO of KPI OceanConnect, reports Platts.

Competitive...

https://mfame.guru/kpi-oceanconnect-exhibits-clear-hunger-for-more-acquisitions/

Key Indicators in the Asia Residual Fuel Market : May 17-21

Traders have said some storage costs of unsold oil are being offset, especially with weak bunker demand in Singapore, as the Asian low sulfur fuel oil market June/July contango widens, according to bunker suppliers says an article published in Platts.

The Asian high sulfur fuel oil market was witnessing contrasting indications of demand for power generation from the Middle East, led by Saudi Arabia, while heavy showers, rising infections, and falling demand in Sri Lanka cast a bearish sentiment.

M...

https://mfame.guru/key-indicators-in-the-asia-residual-fuel-market-may-17-21/

Weak Bunkering Prices in Chinese Ports

  • A surge in bunker fuel supply in Zhoushan and Shanghai has dragged the ports’ 0.5%S marine fuel differential to the FOB Singapore Marine Fuel 0.5%S cargo assessments.
  • It is a all-time lows since S&P Global Platts first began assessing the grade on July 1, 2019.
  • The differential between delivered Zhoushan 0.5%S marine fuel and Singapore Marine Fuel 0.5%S cargo flipped to a discount for the first time on April 16.

A Platts news source by Atsuko Kawasaki higlights that Zhoushan, Shanghai 0.5%S...

https://mfame.guru/weak-bunkering-prices-in-chinese-ports/

[Watch] Cheaper Crudes and Freight Rates Recovery Drive Market Demand

  • Market demand continues to sustain buying interest for Asian high sulfur fuel oil.
  • Singapore Marine Fuel 0.5%S market has seen a revival of buying interest.
  • Singapore Marine Fuel 0.5%S August/September contango narrowed to minus $1.50/mt.
  • Singapore Marine Fuel 0.5% cargo assessment was assessed at $18.50/mt.
  • Zhoushan delivered marine fuel 0.5%S differential to the benchmark FOB Singapore Gasoil.
  • Singapore-delivered 380 CST bunker premium to Singapore 380 CST HSFO cargo assessments.
  • Market...

https://mfame.guru/watch-cheaper-crudes-and-freight-rates-recovery-drive-market-demand/

IMO 2020: A New Opportunity for China’s Bunker Fuel Sector

  • Chinese ports handle nearly a third of global container traffic and have the largest merchant fleet in the world in terms of the number of ships owned.
  • China plays a surprisingly small role in bonded bunkering – the provision of fuel sold tax-free to ships traveling between countries across international waters.
  • Rotterdam and Fujairah sold under 10 million mt last year and in comparison, China’s total bunker fuel demand is about 12 million mt/year across all its ports.
  • In June, 0.5% sulfur...

http://mfame.guru/imo-2020-a-new-opportunity-for-chinas-bunker-fuel-sector/

Zhoushan Poised To Beat Singapore on LSFO Price

Beijing is expected to approve a long-awaited tax rebate for the export of low-sulphur fuel oils later this year, says an article published in Lloyd’s List. 

Nominal price 

The move will allow Zhoushan to provide this type of marine fuel at a price that is no more expensive than Singapore.

Waiting to start operations

A local Zhoushan official says fuel producers are ready to start operations once the tax refund policy rubber stamped by apparatchiks in Beijing.

Beijing is trying to catch up with...

http://mfame.guru/zhoushan-poised-to-beat-singapore-on-lsfo-price/

ABB extends its service network in Zhoushan, China

Opening of the new branch office of ABB Jiangjin Turbo Systems Co., Ltd. in Zhoushan, China

To continue to provide customers across the globe with greater access to ABB’s high-quality service and parts, ABB Turbocharging has announced the establishment of a branch office of ABB Jiangjin Turbo Systems Co., Ltd. in Zhoushan.

Zhoushan, thanks to its superior geographical position and the booming development of China’s marine industry and economy, is now taking over 35 percent of the total working...

http://www.allaboutshipping.co.uk/2018/11/23/abb-extends-its-service-network-in-zhoushan-china/

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