Sinopec is trying hard to develop her bonded bunkering business since 2010, and try to win China's No 1 bonded bunker supplier prize in the next several years. The company had nearly 0.9 million mt bonded bunker sales or 10% market share during 2010.
 
The company claimed a big plan on bunkering sales earlier. Sinopec hopes to sell over 1 million mt bonded bunker oil in the first 12 months beginning July 2010, and at least 5 million mt in 2014-2015.
 
The sales target means Sinopec's bonded bunker sales will be closer to that of Chimbusco, the China's biggest bonded bunker supplier, and maybe become the second biggest bonded bunker supplier.
 
Will Sinopec surpass Chimbusco and become the biggest supplier in China? It seems very hard but I think it is not impossible. Based on my calculation, bunker sales of Sinopec may catch up with that of Chimbusco, and both at 12–13 million mt in 2019.
 
Sinopec's core competence is that she is not only a bunker supplier, but also a bunker oil producer, an international trader with powerful networks. Sinopec can get lower bunker costs to compete with other bunker suppliers.
 
If China's government cancels consumption tax on fuel oil exporting, above-mentioned Sinopec's dominant position will be more powerful in the bunkering market.
 
Sinopec has 3 bunker companies with bonded bunker license, including Sinopec Zhoushan, China Shipping & Sinopec Suppliers Co Ltd (SinoBunker), China Changjiang Bunker (Sinopec) Co Ltd (CCBC). However, Sinopec's bonded bunker business mostly focuses on Sinopec Zhoushan, her one and only wholly-owned subsidiary.