Sinopec's fuel oil and bunker sales and marketing arm Sinopec Fuel Oil Sales has recently started inner-trade bunker business in Tianjin, Caofeidian and Huangye ports in the Bohai Bay, a company source told C1.
The Tianjin branch of Sinopec Fuel Oil Sales has rented from private bunker traders 2,900-cu-m oil terminal and 3,000-DWT jetty in Tianjin, as well as three refueling barges, the source revealed.
The company plans to also debut inner-trade bunker business in nearby Qinhuangdao and Jingtang ports during end December 2010 and early January 2011, the source said, adding supportive oil terminals and barges have been ready.
Sinopec has so far set up inner-trade bunker sales and marketing arms in Jiangsu, Shanghai, Zhoushan, Tianjin, Xiamen, Qingdao and Guangzhou. It is expected to establish more in the future.
As C1 reported earlier, Sinopec carried out bonded bunker business in Tianjin by the name of Sinopec Zhoushan on Oct 23.
Competitions in northern China bunker market would become fiercer with Sinopec's participation, which would also make local bunker prices more competitive in the domestic market, market sources denoted.
The Tianjin branch of Sinopec Fuel Oil Sales has rented from private bunker traders 2,900-cu-m oil terminal and 3,000-DWT jetty in Tianjin, as well as three refueling barges, the source revealed.
The company plans to also debut inner-trade bunker business in nearby Qinhuangdao and Jingtang ports during end December 2010 and early January 2011, the source said, adding supportive oil terminals and barges have been ready.
Sinopec has so far set up inner-trade bunker sales and marketing arms in Jiangsu, Shanghai, Zhoushan, Tianjin, Xiamen, Qingdao and Guangzhou. It is expected to establish more in the future.
As C1 reported earlier, Sinopec carried out bonded bunker business in Tianjin by the name of Sinopec Zhoushan on Oct 23.
Competitions in northern China bunker market would become fiercer with Sinopec's participation, which would also make local bunker prices more competitive in the domestic market, market sources denoted.
