Local companies selling bunker fuel may double
Source: Bloomberg News |
October 21, 2011, Friday
|
Print Edition
Print Edition
CHINA, with the world's busiest port at Shanghai, may double the number of local companies allowed to sell tax-exempt marine fuel as demand from ships increases.
The Ministry of Commerce is formulating the plan after it received applications this year from five companies looking to sell bonded bunker fuel, Zhou Yiqing, manager of the bunker department at Sinopec Fuel Oil Sales Co, which owns a unit licensed to sell such supplies, said in Beijing yesterday.
China's demand for bunker, or fuel used to power ships, is rising along with the nation's growing need for raw materials and rising export of finished goods. The world's fastest-growing major economy may need more than 20 million tons of bunker fuel a year by 2015, Zhou said.
The five companies that applied for licenses include state-owned China National Aviation Fuel Group Corp, the country's biggest jet-fuel distributor, China Arts Huahai Import and Export Corp and Shanghai Fuel Co, Zhou said. Officials at the three companies didn't immediately respond to telephone calls from Bloomberg News.
Five Chinese firms are now licensed to sell bonded bunker fuel, Zhou said. The companies include China Marine Bunker (PetroChina) Co, also known as Chimbusco, and a unit of China Petroleum and Chemical Corp in Zhoushan, Zhejiang Province.
The Ministry of Commerce is formulating the plan after it received applications this year from five companies looking to sell bonded bunker fuel, Zhou Yiqing, manager of the bunker department at Sinopec Fuel Oil Sales Co, which owns a unit licensed to sell such supplies, said in Beijing yesterday.
China's demand for bunker, or fuel used to power ships, is rising along with the nation's growing need for raw materials and rising export of finished goods. The world's fastest-growing major economy may need more than 20 million tons of bunker fuel a year by 2015, Zhou said.
The five companies that applied for licenses include state-owned China National Aviation Fuel Group Corp, the country's biggest jet-fuel distributor, China Arts Huahai Import and Export Corp and Shanghai Fuel Co, Zhou said. Officials at the three companies didn't immediately respond to telephone calls from Bloomberg News.
Five Chinese firms are now licensed to sell bonded bunker fuel, Zhou said. The companies include China Marine Bunker (PetroChina) Co, also known as Chimbusco, and a unit of China Petroleum and Chemical Corp in Zhoushan, Zhejiang Province.
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