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Chemical News

China: SinoBunker starts bonded bunker supply in N. China's Tianjin

http://www.chemnet.com Dec 21,2010

China Shipping & Sinopec Supplies Co Ltd (SinoBunker) sold 600mt of bonded 380CST bunker fuel oil in North China's Tianjin port on Dec 18, marking the beginning of its bonded bunker business there, according to a source with SinoBunker Tianjin.

SinoBunker has rented 9,000 cu m of bonded storage and a 30,000-DWT jetty from Tianjin Northern Petrochemical Terminal, the source said. It is also equipped with one 2,600-DWT refueling ship and two 800-DWT ones, added the source.

SinoBunker's participation in bonded bunker market in Tianjin was just about two months after Sinopec Zhoushan. The competition in the Bohai Bay will become fiercer and local bunker prices will become more competitive against those in the neighboring Asian areas, said some market sources.

SinoBunker has established eight branches for bonded bunker business so far, located in Dalian, Ningbo, Shanghai, Tianjin, Shenzhen, Guangzhou, Zhanjiang and Haikou. It will set up more branches in domestic major ports in the future.

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China: SinoBunker starts bonded bunker supply in N. China's Tianjin