China is reshaping global shipping fuel markets by taking advantage of its booming maritime trade and massive refining capacity to undercut rivals from Singapore to South Korea and become the world’s fastest-growing major marine fuel hub. China’s rising influence in marine fuels, globally worth over $100 billion a year, has been made possible by a surge in its fuel output and thriving trade thanks to being home to the world’s largest manufacturing base and four of the five busiest global container ports. That has allowed Chinese suppliers of marine fuel, also known as bunkers, to lure business with more competitive prices, chipping away at market share held by competitors such as Hong Kong, Taiwan, South Korea, Japan and Singapore. “As the market stabilizes, China will start taking more bunkering growth volumes away from places like Singapore or other north Asian ports but this will […]