Hainan bunkering volume up 113% on year to 217,500 mt during 2021

Hainan Maritime Safety Administration supervised 420 bonded oil bunkering operations and recorded a bonded bunkering volume of 217,500 metric tonnes (mt) in 2021, representing respective increases of 158% and 113% on year, according to state media CCTV. The Hainan Provincial Department of Commerce, Hainan Maritime Safety Administration and Hainan Provincial Department of Transportation jointly issued

Japan to subsidise refiners to ease oil price impact

Japan is planning to give subsidies to the country’s refiners for the first time to offset the impact of surging oil prices on domestic oil product values. The government will provide funding to refiners when the country’s retail prices of products such as gasoline exceed a certain level, to avoid further increases, Japan’s trade and