Zhoushan becomes the first place in the country to implement a pilot policy for blending biofuel oils!

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Zhoushan becomes the first place in the country to implement a pilot policy for blending biofuel oils! Recently, news came from the Zhoushan Municipal Bureau of Commerce stating that the Ministry of Commerce has approved Zhoushan to carry out the business of exporting blended marine biofuel oil, and a regulatory plan for the blending and production of such biofuel oil in Zhoushan was also introduced. This move marks another pioneering reform and innovation achievement in the development of a hub for commodity resource allocation within the Zhejiang Free Trade Pilot Zone. Currently, the global marine fuel market is transitioning toward greener and lower-carbon options, with biofuels becoming the preferred choice for shipping companies around the world. International free trade ports such as Singapore have rapidly developed their own supply capabilities through blending different types of fuels. According to public data, Singapore’s refueling volume last year was 1.36 million tons, representing a year-on-year increase of 55.6% ； During the same period, China’s refueling volume was only 150,000 tons, all of which had to be imported, with 60,000 tons coming from the Ningbo-Zhoushan Port. “This breakthrough in the policy regarding the blending of biofuel oils is of great significance. For Zhoushan, it is not only a mission to implement this **strategy, but it also represents a significant advantage for the long-term development of the green marine fuel industry. ”According to officials from the city’s Commerce Bureau, this policy breakthrough will change the situation in which China relies on imports for biofuel oil, enabling domestic production and export. Zhoushan is also expected to become an important source of biofuel for ships in China and throughout Northeast Asia. At the end of 2024, the \"Plan for Building a Hub for the Allocation of Commodity Resources in China (Zhejiang) Free Trade Zone,\" approved by the State Council, specified that Zhoushan should be supported in carrying out the blending and export of biofuel oils. Over the past year, the relevant departments have worked closely together and made persistent efforts to secure approval, which was finally granted by the **ministry or commission recently. According to forecasts by fuel suppliers, local blending of biofuels can save around $80 per ton compared to importing them. The official stated that with the implementation of this policy, greater economic benefits will also be seen in extending, strengthening, and supplementing industrial chains. It is reported that biodiesel is an important raw material for blending. A biodiesel processing project with a total investment of 1.7 billion yuan and a capacity of 400,000 tons has been established in Zhoushan. The Zhonghua Xingzhong medium-sized warehousing and logistics company in Zhoushan has also received orders for the leasing and blending of oil storage facilities, with subsequent supporting services such as quality inspection, customs inspection, and financial services being provided as well. At present, Zhoushan is actively preparing to carry out the first pilot project, aiming to complete it by the end of February. Carrying out the first pilot supply is intended not only to quickly meet market demands but also to help further optimize business processes, thereby establishing an efficient, rapid, and mature management system.