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Qingdao port acquires crude oil terminal

Qingdao Port Qingdao port tanker berthing.jpg
The northeast Chinese port of Qingdao has entered into a share transfer agreement for the acquisition of crude oil terminal assets of Haiye Petroleum's local companies and related parties.

Upon the completion of the deal, Qingdao port will hold 51% equity interests in Haiye oil terminal.

Haiye terminal is a 250,000 tonne-class crude oil terminal with a designed handling capacity of 15.4m tonnes per year. It is equipped with 17 oil tankers with a storage capacity of 1.04m cubic meters and connected with crude oil tanks of the Huangdao oil port area by oil pipeline. 

With port operation and dangerous goods handling permits, Haiye oil terminal and its subsidiaries are mainly engaged in the stevedoring, storage and transportation of crude oil. Taking advantage of the relevant policies of the Qingdao section of the China (Shandong) Pilot Free Trade Zone, the terminal carries out crude oil blending and reconciliation, bonded delivery and other businesses within bonded tanks.

Haiye Oil Terminal, incorporated in March 2006, is mainly engaged in providing terminal facilities for ships, cargo handling and warehousing services in port area and dangerous goods handling.

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