The Group is the only privately-owned Chinese oil company to be granted a full license for bonded bunkering supply business at all sea ports in China. The Group ranks top 3 fuel oil importer in China, and was the top 3 supplier of bunker fuel by volume in Singapore for several consecutive years - market shares once reached 40%. Furthermore, the Group expanded its business to provide a full spectrum of oil products, including crude oil, gasoline, etc., so as to leverage its existing resources and business network to widen its product lines and, in turn, enhance the overall profitability of the Group.
The Group’s Singapore team launched its international crude oil trading business in August 2012. Trade varieties include crude oil, fuel oil, middle distillates and chemicals. With a view to achieving sustainable development, establishing upstream and downstream, enhancing profit growth and trading volume in mutually beneficial relationships. Cooperating with oil producers, we provide stable supply to refineries and manage operational risks. We have tapped into overseas crude oil markets such as the Persian Gulf, Far East, West Africa, the North Sea and South America, and have been providing services to refineries in Mainland China, Taiwan, South Korea, Japan, Thailand, Vietnam, Malaysia and India.
Since July 2008, the Group has been engaged in the marketing and sales of marine bunkering in the Port of Shenzhen in China and has become the largest marine bunkering service provider in the Port of Shenzhen together with its adjacent areas. In 2009, the Group expanded its marine bunkering business to Hong Kong, Shanghai, Ningbo and Singapore. The Group started the marine bunkering service in Qingdao, China in 2013 and advanced among market players to install flow meters for refueling ships in Singapore.
To provide one-stop oil supply services to our customers, which are mainly international shippers, we have been focusing on global network mapping involving the world’s major ports. We currently have operations at eleven ports worldwide, including Shenzhen, Shanghai, Ningbo, Zhoushan, Qingdao and Hong Kong, Singapore, the ARA region, Tanjung Pelepas in Malaysia, New Orleans and Houston in the US.
The Group achieved impressive growth in its marine bunkering business in the past two years and gained recognition from long-term and potential clients. With clear development plans in place, the Group is confident that its marine bunkering business will continue to be a key revenue contributor to the Group and bring ample returns to the shareholders of the Group in the future.