Trafigura Energy (Zhejiang) Gained Bonded Bunker Supply Qualification in Zhoushan
On January 11, 2021, Zhoushan government approved Trafigura Energy (Zhejiang)’s qualification of bonded bunker supply in Zhoushan, and the number of enterprises with bonded bunker supply qualification grew to 15.
Trafigura Energy (Zhejiang) was established on November 6, 2018, and it was fully invested by Trafigura Hong Kong. Therefore, Trafigura Energy (Zhejiang) enjoys advantages in bonded bunker procurement, storage, etc. It is obvious that the future competition in the bonded bunker market will intensify.
Source says that Zhoushan plans to supply around 6 million mt bonded bunker in 2021. With the revival of global economy, the global bunker demand is estimated to improve, supporting China’s bonded bunker supply volume to grow. Moreover, China’s bonded bunker output is predicted to go up from 2020 as well, as the units at Sinopec, PetroChina, etc. will enter a stable production stage. SCI estimates that China’s total bonded bunker supply volume in 2021 will be around 17-18 million mt.
