Collectively, Chinese ports have consistently ranked first 

in the world in terms of cargo and container throughput. 

More recently, propelled by innovative measures, 

institutional support, and loosening policies, there has 

been a rapid growth in the supply of bonded marine fuel 

in China – now reaching 12 million metric tons a year. But 

Chinese ports still have enormous growth potential in this 

area, as together they have seven times the cargo volume 

of their Singaporean counterpart, but merely a quarter 

of the bunkering volume. For this reason, the Zhejiang 

Free-Trade Zone has been striving to build Zhoushan 

into the “Northeast Asia Bunkering Hub.” Meanwhile, the 

introduction of tax rebate for fuel oil exports is expected 

to wean China off its complete reliance on import marine 

fuel and encourage the domestic production and export 

of bonded marine fuel. This is expected to drive up the 

output of domestic refineries and, therefore, the size of 

China’s bonded marine fuel market.

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