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China: Huaying Petchem starts construction of 10-mil-mt/yr fuel oil blending base

https://www.chemnet.com   Aug 11,2010
Huaying Petrochemical started building a 10-mil-mt/yr fuel oil blending center in Daya Bay in Huizhou City of South China’s Guangdong Province on Aug 9, boasting the largest one in China when completed in 2013, according to traders in Huizhou.


The project would mainly comprise 1.03-mil-cu-m heavy oil tank farm, a 300,000-DWT oil jetty and two 20,000-DWT fuel oil shipping wharfs, the source said.
Sources with Huaying Petrochemical were unreachable for comments at present.
The company will carry out blending and transferring business of heavy oil, heavy gasoil and residue based in the center, according to project profile from Huaying Petrochemical. It plans to produce various industry-use and bunker fuel oil with foreign heavy gasoil and residue as blendstock.


With the project in service, Huaying Petrochemical may provide bunker fuel oil to traders with bonded bunker business licenses in South China, industry sources reckoned.


In addition, the hidden trouble for environment protection caused by ship-to-ship transfer of fuel oil in the Pearl River Estuary would be resolved by then, the sources denoted.


Bonded bunker market has become the growth point of China's fuel oil consumption. China's bonded bunker consumption surged from 2.58-mil mt in 2006 to 6.88-mil mt in 2009, with annual growth rate hitting 30% on average. Major Chinese bonded bunker traders have been establishing transferring centers in the Bohai Ring region, Yangtze River Delta and Pearl River Delta.


Huaying Petrochemical is a subsidiary of the Huaying Investment transliteration), specializing in energy investment business.
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