ExxonMobil has a total of 450,000 m³ storage in Hong Kong’s Tsing Yi Island and the tank farm is equipped with one 120,000-dwt jetty.
Of this Chimbusco is considering leasing 100,000-200,000 m³ of capacity, but with a one-year waiting period until the tanks are operational, the move may not be immediate.
The firm’s sister company Chimbusco Pan Nation (HK) has already rented around 80,000 m³ of tank capacity from ExxonMobil under a term contract at the East Asian port.
Another Chinese state-run firm, Sinopec Hong Kong, is the second biggest fuel oil and gasoil storage operator in Hong Kong with about 120,000 m³ of onshore storage facilities.
Chimbusco is a 50-50 joint venture between COSCO Group, China’s largest shipping firm, and oil giant PetroChina Company.