State Council Agreed to Open Binzhou Port
Recently, the State Council has officially agreed to open Binzhou Port. Sources say that there are two 30,000 DWT break-bulk berths and two 30,000 DWT liquid chemical berths at this port. Meanwhile, there are more than 40 projects which are actively carrying forward, including two 50,000 DWT oil product berths, 50,000 DWT channels, oil pipelines, etc.
According to Ministry of Commerce of the People's Republic of China, the total volume of the first batch of crude import quota under non-state trade for 2018 reaches 121.32 million mt. Therein, independent refineries obtained more than half of the quota. Besides, with Shandong Refining & Chemical Energy Group establishing, the feedstock from Binzhou Port and Weifang Port will ease the supply pressure and lower the transportation cost.
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