Sign up
Log in Sign up
Mon 17 Jun 2013, 13:34 GMT

Brightoil seals deal to build Zhoushan oil storage


Storage facilities will have a total capacity of around 3.2 million cubic metres.

Brightoil Petroleum (Holdings) Limited. has announced that its wholly owned subsidiary, Brightoil Petroleum Storage (Zhoushan) Co., Ltd., has signed a construction contract with China Petroleum Pipeline Bureau to build the first phase of oil storage facilities on Waidiao Island in Zhoushan, Zhejiang Province.

Located on Waidiao Island, the Zhoushan Waidiao Island Project will have a total capacity of approximately 3.2 million cubic metres (cbm). The project will be developed in two phases.

With a storage capacity of approximately 1.94 million cbm for fuel oil, petroleum, diesel fuel, jet fuel and chemical products, Phase I of the project is scheduled to start commercial operations in the second half of 2014.

Phase II of the project, which has a capacity of approximately 1.22 million cbm, is slated to begin full commercial operations in the second half of 2015.

According to the construction contract, China Petroleum Pipeline Bureau will carry out the construction works for oil storage facilities for Phase I of the Zhoushan Waidiao Island Project. The construction is expected to take 16 months and to be completed by the end October 2014. The contract price is RMB1.32 billion.

Dr. Sit Kwong Lam, Chairman & CEO of the Group, said: "We are pleased to sign the cooperative contract with China Petroleum Pipeline Bureau, which marks an important milestone in the development of our oil storage and terminal facilities business. Zhoushan is emerging as a major petrochemical and trading hub for East China and is strategically located to support the import and regional trade for the greater Yangtze River Delta region. It creates synergies with our project on Changxing Island in Dalian, an oil storage and facilities project under development. The commissioning of these two projects will bring us stable revenue from oil storage as well as oil trading opportunities. Looking ahead, the group will continue to actively expand its oil storage and terminal facilities business while considering additional storage facilities to consolidate our competitive strength and create stable return to our shareholders."

Christiania Energy headquarters. Christiania Energy relocates headquarters within Odense Harbour  

Bunker firm moves to larger waterfront office to accommodate growing team and collaboration needs.
AiP award ceremony for 20K LNGBV design. HD Hyundai Heavy Industries receives design approval for 20,000-cbm LNG bunkering vessel  

Bureau Veritas grants approval in principle following joint development project with South Korean shipbuilder.
Lloyd’s Register technical committee meeting in Spain. Peninsula outlines dual role in FuelEU Maritime compliance at Lloyd’s Register panel  

Marine fuel supplier discusses challenges for shipowners and opportunities for suppliers under new regulation.
Current status of fleet fuel types chart. LNG-fuelled container ships dominate January alternative-fuel vessel orders  

Container ships accounted for 16 of 20 alternative-fuelled vessels ordered in January, DNV reports.
Rick Boom, CIMAC and Professor Lynn Loo, GCMD. GCMD and CIMAC sign partnership to advance alternative marine fuel readiness  

Two-year agreement aims to bridge operational experience with technical standards for decarbonisation solutions.
Renewable and low-carbon methanol project pipeline chart as of January 2026. Renewable methanol project pipeline reaches 58.2m tonnes by 2031, GENA reports  

Project Navigator Methanol tracks 275 projects, including e-methanol, biomethanol and low-carbon methanol facilities globally.
Petrobras logo. Petrobras adjusts bunker pricing and minimum order volumes at Santos  

Brazilian supplier discontinues volume discount tier and lowers minimum order quantity from 1 March.
Viking Grace vessel. Viking Line secures biogas supply for 2026 after tenfold increase in biofuel use  

Åland-based ferry operator aims to maintain 50% biogas blend throughout the year on two vessels.
GNV Aurora vessel. GNV takes delivery of second LNG-powered vessel Aurora from Chinese shipyard  

Vessel to enter service on Genoa–Palermo route in April, completing first fleet renewal phase.
Tangier Maersk vessel. Maersk takes delivery of first methanol-capable vessel in 9,000-teu series  

Tangier Maersk is the first of six mid-size container ships with methanol-capable dual-fuel engines.




 Recommended