March 1, 2010 [C1 Energy] - The private-run Shanghai Lonyer Petrochemicals Co Ltd has recently taken over Hailian Tank Farm in Zhoushan of East China's Zhejiang province, a source with the former said.
The company’s move aims to enlarge shares in the huge bunker fuel market of Zhoushan, according to the source. Earlier, its Zhoushan branch purchased two 1,000-mt new barges for bunkering.
Shanghai Lonyer had long been leasing storage from Hailian Tank Farm to operate wholesale business of bunker-spec fuel oil and shale oil. Supported by one 5,000-DWT oil jetty, the 80,000-cubic-meter Hailian Tank Farm is mainly used to store fuel oil.
With registered capital of Yuan 150-mil, Shanghai Lonyer is mainly engaged in bunker fuel business. It set up bunker branches in succession in Zhoushan, Guangzhou, etc over past one year. By far, it has branches in more than seven cities, including Dalian, Shanghai, Zhoushan, Ningbo, Taicang, Nantong and Guangzhou. The company usually sells 1-mil mt of oil annually.
