China's Bonded Ship Burning Reverses Import Dependence

Since 2017, Zhejiang FREE TRADE Test Zone vigorously develop bonded ship oil supply business, Shandong, Hebei, Hainan and other free trade test zone bonded ship combustion actively expand, China's port bonded ship combustion consumption growth rate has exceeded Singapore. Since this year, fuel oil general trade export tax rebate policy decentralized good so that bonded ship combustion business growth rate to a higher level. According to customs data, China's marine fuel oil exports exceeded 5.1 million tons in January-May this year, up 870,000 tons year-on-year. The negative growth of bonded ship combustion sales was mainly due to the decentralization of policy dividends and the active layout of Sinopec and China-Light to ensure the stability of the supply of low-sulfur resources, breaking the long-term dependence on imports of domestic bonded marine oil.