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Fri 18 Sep 2009, 09:37 GMT

China Bunker aiming for surge in sales - source


Supplier is said to be planning for a significant rise in sales with the addition of three new ports.

China Shipping & Sinopec Suppliers Co. (China Bunker) is aiming to significantly increase its bonded bunker sales in 2010 to one million metric tonnes, Dow Jones reports.

According to an unnamed company official, China Bunker - one of the country's major bunker suppliers - expects sales volumes this year to be approximately 200,000 tonnes of bonded bunker fuel after having sold just over 50,000 tonnes in 2008.

The company is now said to be aiming to dramatically increase marine fuel sales from next year with the addition of at least three more ports over the next few months.

China Bunker currently operates as a physical supplier in Zhanjiang and Shenzhen located the southern province of Guangdong; Shanghai and Ningbo in eastern China and Hainan Island in the South China Sea.

The company is now understood to be planning to begin supplying in Rizhao port in Shandong province, Guangzhou port in Guangdong province and Dalian port in Liaoning province by the end of 2009.

Earlier this year Brightoil Petroleum began supplying marine fuel at the eastern ports of Shanghai, Ningbo and Zhoushan, prompting rival Chimbusco to cancel its policy of publising posted prices for ports also covered by Brightoil.

The company also said that it plans to invest US$887 million to build an oil storage facility in the northern port area of Changxing Island in Dalian, Liaoning province.

In June, it was reported that China Marine Bunker (Petrochina) Co Ltd. intends to team up with a local firm on Xiaohu Island, Guangzhou, to supply around one million tonnes of marine fuel per year.

China Marine Bunker, a joint venture between PetroChina and China Ocean Shipping (Group) Co (COSCO), is reportedly planning to establish a marine fuel supply partnership with a local company on Xiaohu Island in order to provide bunkering services to vessels calling at a new oil terminal, which is yet to be built.

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