Reuters reports that China has approved a long-awaited tax waiver on exports of cleaner ship fuel, helping refiners to boost output. Yet, Beijing may initially limit shipments with the aim to focus on growing its coastal marine fuel market.
As ships globally have switched to lower sulfur fuels, or use emissions-removing devices, to comply with new IMO rules, China’s State Council, gave the go-ahead to waive taxes on the 0.5% or very low sulfur fuel oil (VLSFO), leading the way for the final...
https://safety4sea.com/china-approves-tax-waiver-for-bunker-fuel/