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ZHOUSHAN, China/SINGAPORE (Reuters) – China’s port city of Zhoushan is planning to challenge Singapore’s dominance of the multi-billion dollar shipping fuel industry, relying on proximity to some of the world’s biggest ports and Beijing’s support to give it an edge cartier cufflinks replica uk online. It will be steep going. The port facilities in the cluster of islands around Zhoushan have annual marine fuel sales of 3.6 million tonnes, less than a tenth of the record 50.6 million tonnes of shipping or bunker fuel Singapore sold in 2017..
Zhoushan, though, was ranked fourth in global container traffic in 2016, according to the World Shipping Council, and it sits 150 km (90 miles) from the world’s biggest container port at Shanghai, and within a day’s voyage of other major ports including Ningbo and Nanjing. Zhoushan wants to go after the fuelling business represented by this traffic, and many shippers and analysts expect it to mount the first serious challenge to Singapore in decades. It’s not just bunkers cartier cufflinks replica uk online. A thriving bunker market attracts valuable secondary businesses – shipping supplies, maintenance and repairs, insurance and other maritime financial services – worth billions of dollars more a year..
“With over 3 billion-tonnage freight handled by Zhoushan and nearby ports, that exceeds Singapore .. We shall not miss the vast market in front of our door,” said Ying Zhongmin, head of policy and regulations at Zhoushan Free Trade Zone. Singapore handled almost 630 million tonnes of cargo in 2017, with vessel arrivals totaling 2.8 billion tonnes, according to government data cartier cufflinks replica uk online. Zhang Haichao, chairman and general manager of Sinopec Corp (600028.SS) unit Sinopec Sales Co, said at an industry event in October that by 2030 Zhoushan’s bunkering volumes will have risen to 30 million tonnes a year, in keeping with targets set by port authorities..
Nearby, there are a half-dozen fuel producers, including the 400,000 barrels-per-day (bpd) Zhejiang Petrochemical Corp plant to be launched at year-end cartier cufflinks replica uk online. Zhoushan could lure in oil and LNG tankers, dry-bulk carriers bringing raw materials from Australia, and container ships heading to the U.S. West Coast. “Vessels calling on China close to Zhoushan and north of it, as well as Japan and (South) Korea, will definitely give it a close look,” said Ashok Sharma, managing director of shipbroker BRS Baxi in Singapore..