December 17, 2018 [S&P Global Platts] - China's Qingdao Port International is planning to build new berths that will be able receive VLCC and oil product tankers, such as Long Range-class vessels, as well as storage facilities in Shandong province's Dongjiakou region, which will cater to local independent refiners, the company said last Friday.
In addition to the VLCC berth, an oil product berth capable of receiving vessels with capacity of 100,000 mt will also be built. Both are targeted to start operations by the end of 2019.
Storage facilities totaling over 3 million cu m in capacity will also be built in Dongjiakou. They include 1.6 million cu m of commercial storage facilities to be constructed by QPI. In addition, QPI will join hands with independent refineries and state-owned companies to set up a combined storage capacity of 2 million cu m.
Of that, 600,000 cu m of storage facilities will be built together with state-owned PetroChina Fuel Oil Company, and 800,000 cu m with state-owned oil trading company Zhenhua Oil, and another 600,000 cu m with independent refiner Fuhai Group, and Qilu Transportation.
The new VLCC berth will be the second in Dongjiakou, and the fourth under QPI.
QPI operates two ports, Qingdao and Dongjiakou, which handle about half of the crude imports by Shandong’s independent refineries. Crude imports handled via QPI also account for a sixth of the total crude imports by the country.
QPI currently have three VLCC berths, two crude pipelines and storage capacity totaling around 16 million cu m.
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