HAIKOU, June 1. /TASS/. Yangpu deepwater port for transcontinental container ships on the northwest coast of Hainan provided duty free refueling to 29 vessels since 2020, five of which received a tax rebate of 213.86 million yuan (roughly $ 33.58 million at current exchange rates) thanks to tax refunds, reported the Hainan Daily.
"They have successfully undergone all the procedures, and approximately in June, these five vessels will receive compensation for the corresponding amount," the newspaper quoted deputy general director of the Hainan branch of the logistics company COSCO Shipping Energy Transportation Tun Ming as saying.
According to shipowners who took the opportunity to refuel duty free, local government measures to reduce costs of Chinese and foreign companies are helping to ease pressure on enterprises the assets of which are involved in the development of Hainan's free port.
As the Hainan administration clarified earlier, the competent departments of the province are constantly conducting active explanatory work so that the number of market entities with the opportunity to use the services of Yangpu port to purchase oil products at reduced prices increases.
According to official statistics, in 2020, the island provided 103,000 tonnes of duty free fuel for more than 160 large Chinese and foreign ships. According to the government, all work was carried out in accordance with epidemiological and fire safety standards. In a year, Hainan has registered the passage of over 190,000 fishing schooners, tankers, bulk carriers, yachts, container ships and cruise ships. The flow of passengers using sea transport in the province exceeded 15.7 million people, and the turnover of goods reached 190 million tonnes.