Oil Storage and Terminal Facility on Waidiao Island
The facility is located at the Zhoushan Archipelago New Area, Zhoushan Waidiao Island Port of Ningbo-Zhoushan Port. The remarkable location provides geographical advantages as it is at the center of Yangtze River Delta region, which includes metropolises such as Shanghai, Hangzhou, and Ningbo. The Zhoushan Archipelago New Area is the fourth state-level new area, following Pudong in Shanghai, Binhai in Tianjin and Liangjiang in Chongqing. It is a pilot region where government focuses on developing marine economy and leading regional development, and is expected to become a hub for processing, transit, warehousing and trading of oil and other large-scale commodity. Brightoil Zhoushan Oil Storage facility carries a total capacity of 3,160,000cbm in which phase one offers capacities of 1.94 million cbm while phase two offers capacities of 1.22 million cbm. The terminal facility will be equipped with 13 berths which can accommodate vessels ranging from 1,000 to 300,000 DWT.
The terminal's competitiveness is enhanced as due to being able to accommodate vessels up to 300,000 deadweight tonnages which will result in a reduction in the freight costs associated with transporting fuel oil. Phase one storage facilities of the Zhoushan project will commission operations in the second half of 2017. Construction of the Phase 2, with a capacity of 1.22 million cubic meters, started in June 2015. Phase 2 is expected to be completed and to commission operations by the end of 2017. Construction of the terminals and ancillary facilities commenced in November 2013 by CCCC Third Harbour Engineering Co., Ltd. (中國交通建設第三航務工程局). With a capacity to accommodate vessels of 300,000 DWT, the facilities are mostly completed and expected to commence operation in the first half of 2018.