China Changjiang Bunker (Sinopec) Co will start bonded bunker business in Tianjin in early July, and said a source with the company’s branch in Tianjin.
"We can start bonded bunker business after one 8,000-mt cargo of 380CST fuel oil arrives next week,” said the source.
China Changjiang Bunker has rented three tanks in Tianjin International Petroleum Storage Co (transliteration)’s tank farm in Nanjiang terminal, the source revealed. These tanks have altogether 22,000 cu m of bonded storage capacity, with 4,500 cu m for MGO and 17,500 cu m for fuel oil.
The company has also rented 5-6 refueling ships from private bunker suppliers, which range from 500DWT to 2,600DWT, the source said.
This will be the first time for China Changjiang Bunker to launch bonded bunker supply in northern China. At present, its business is mainly in East China, including in Shanghai, Ningbo, Nantong and Nanjing cities.
Together with China Changjiang Bunker, four bonded bunker suppliers will gather in Tianjin-Chimbusco, Sinopec Zhoushan and SinoBunker, and the competition will become fiercer.
In addition, China Changjiang Bunker plans to kick off bonded bunker business in Qingdao and Dalian this year. If this plan is carried out, competition in the Bohai Bay’s bonded bunker market will be intensified.
