The world’s first river-sea liquefied natural gas bunkering vessel is delivered in Shanghai on July 19. [Photo provided to China Daily]
The volume of bonded fuel oil supplied to international vessels under the supervision of Shanghai Customs had exceeded 4 million tons as of the end of last year, a year-on-year increase of 20.4 percent.
Unlike traditional fuel oil, bonded fuel oil for ships is free of tariffs, value-added tax and consumer tax, significantly cutting operational costs for related parties such as international logistics companies.
Shanghai Customs has been actively supporting the expansion of bonded fuel oil bunkering services through policy innovation, solidifying Shanghai’s position as an international shipping hub.
One of the policies is to integrate the functions of bonded warehouses and export supervised warehouses to streamline the production, transfer, storage and supply of fuel oil, said Yu Yongjun, a senior official of Shanghai Hongkou Customs.
The new policy facilitates collaboration between locally licensed fuel supply companies and nationally licensed fuel supply companies, which used to be competitors, Yu added.
In the first 11 months of 2024, the volume of bonded fuel oil supplied by locally licensed companies reached 1.27 million tons, accounting for about one-third of the total volume supplied by Shanghai.
Source: Shanghai Observer
,https://english.shanghai.gov.cn/en-Latest-WhatsNew/20250106/9161c90f7b2545ab93b5c4fa5d1d1d5c.html