Research On The Competitive Strategy Of Company ZCR's Bonded Bunker Oil Business

Bonded bunker oil is a kind of ship fuel specially provided for the international sailing ships,and is exempted from related taxes and fees in accordance with international practice.Since joining the International Trade Organization(WTO),with the vigorous development of China's foreign trade and the opening of the bonded oil market for the first time,domestic demand for bonded marine oil has risen strongly,and its supply scale has leapt to the second place in Asia.In recent years,in order to consolidate its important strategic position in the “Belt and Road” fuel supply region,the Zhoushan Free Trade Zone in Zhejiang province has opened its doors to the market once again,intensively issued the local business qualifications,and a large number of bonded bunker suppliers have arrived.The pattern of domestic bonded bunker supply market has taken place deep changes later.The Industry contradictions such as products homogeneity,excessive competition,low overall profitability,and high operating risks have become increasingly serious,which have brought extremely adverse effects to the survival and development of those operating enterprises.ZCR is a well-known large-scale marine fuel supply company in China.It was also a pioneer when China's bonded marine oil market was first opened.For more than ten years,the company has relied on a good operating network and professional bunker supply service capabilities to occupy the Yangtze River market and several coastal markets,and established a solid industry status.However,in recent years,the business has encountered prominent problems such as stagnant market share growth,declining business in individual regions,declining of profitability and industry status.In the face of increasing uncertainties in the current domestic and foreign economic and trade environment,both of the shipping and petroleum industries are in a downturn,and the domestic market is further opened up,leading to intensified competition.How to use the existing advantages and tap the internal potentials to improve the quality of development,enhance competitiveness,adapt to market changes better,and gain initiative in competition has become an important strategic issue to ZCR Company who has to consider thoroughly.This article takes the ZCR company's bonded marine oil business as the research object,applies corporate strategic management,competitive management and other research theories and analysis methods,and uses PEST analysis and Porter five-force analysis on the macro environment,industry development status,and competition that affected the development of bonded oil business.Meanwhile the general situation of the bonded marine oil business of ZCR Company and its internal resources and capabilities are analyzed.Based on the analysis of the internal and external environmental information,with the EFE matrix,IFE matrix,IE matrix,SWOT model,QSMP matrix and other strategic analysis tools,using a combination of qualitative description and quantitative analysis,identified the optimal competition strategy of ZCR as a cost-leading strategy,and proposes the implementation of the strategic plan such as integrating resources,improving management systems,enhancing internal capabilities,and expanding cooperation among other enterprises.The research in this article helps to make a more scientific and reasonable strategic planning for ZCR's bonded oil tanker business.It is important to enhance the competitiveness of the business,promote the healthy development of the business,and helps to achieve the company's overall strategy of "build a domestic first-class integrated energy service enterprise.",also has certain significant reference for the formulation and implementation to this company's other strategic planning.