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Mon 1 Mar 2010, 13:49 GMT

Chinese firm acquires Zhoushan tank farm


Bunker player increases its presence in Zhoushan with acquisition of tank farm.

China's Shanghai Lonyer Petrochemicals Co Ltd. is reported to have recently acquired the Hailian Tank Farm in Zhoushan, Zhejiang province, located on the country's east coast.

The move is said to be part of the company's strategy to increase its market share in the Zhoushan bunker market.

The 80,000 cubic metre (cbm) Hailian Tank Farm is principally used to store fuel oil. It is also supported by a 5,000 deadweight tonnage (dwt) oil jetty.

Bunker player Shanghai Lonyer had been leasing storage from the Hailian Tank Farm as part of its marine fuel supply infrastructure. It is also understood to have recently purchased two 1,000 metric tonne newbuild barges for bunkering.

Shanghai Lonyer has offices in a number of locations including Dalian, Guangzhou, Nantong, Ningbo, Shanghai, Taicang and Zhoushan. The company is reported to sell around one million tonnes of oil products per year.

Deal   China  Zhoushan (CN) 
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