Zhoushan Port achieves first full-vessel unloading of offshore spot trading

After clearing customs at Zhoushan Port in East China's Zhejiang province, 15,000 metric tons of soybeans imported on a bulk carrier were unloaded into the bonded trading warehouse of Zhoushan Good Ocean Grains & Oils Co on Sept 9.

This marks the first full-vessel unloading and storage operation since the offshore spot-traded soybean bonded warehouse at Zhoushan was approved and put into use in December 2023.

Offshore spot trading of imported soybeans is a new trade model. With the introduction of the offshore spot trading policy, soybeans can now be stored in bonded trading warehouses and then transferred or distributed, significantly enhancing trade flexibility and circulation efficiency.

Previously, imported soybeans could not be freely transported or sold without clear processing destinations post-entry.

To facilitate the smooth customs clearance and storage of the soybeans, Zhoushan established a dedicated bonded logistics account for the soybean bonded trading warehouse, formulated a comprehensive supervision plan for the offshore spot-traded soybeans, and enabled the seamless integration of ship quarantine, cargo inspection, and laboratory testing processes.

According to relevant data, from January to August this year, Zhoushan Port handled 12.70 million tons of grain, a year-on-year increase of 16.2 percent. Among this, soybean imports accounted for 10.22 million tons, up 15.8 percent year-on-year.