Domestic first OilFut unloaded in Dalian Port! | Sowoll

Release time: Tuesday, June 26, 2018
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On June 21st, YouPin Terminal of Dalian Port completed the unloading of the “Asian Progress 5” wheel of the Singapore-owned oil tanker. It is wonderful that the domestic first crude oil futures smoothly unloaded to the designated delivery warehouse of PetroChina International Storage & Transportation Co., Ltd. After the official listing of domestic crude oil futures, this finished unloading is a symbol of the beginning of a substantial phase in China's future crude oil transactions.

Nowadays, China has become the world's largest crude oil importing country, meanwhile, it is also the world's second largest consumer of crude oil. On March 26, China's crude oil futures were officially listed on the Shanghai International Energy Trading Center. As domestic first internationalized futures product in China, the listing of crude oil futures provides domestic crude oil consumers with hedging and risk avoidance channels, which is more conducive to the formation of a price system reflecting the supply and demand relationship between China and the Asia Pacific oil market. To some extent, it is also of great significance in promoting the internationalization of the RMB.

With great support of Dalian Customs, the "Asian Progress 5" carrying first batch of futures crude oil berthed at No. 22 of Oil Terminal on schedule in the afternoon of June 19th. In the early morning of June 21st, the unloading operations were finished and the ship left Dalian Port.

As the designated port of the first oil futures storage, Dalian Port has the largest domestic crude oil, refined oil and liquid chemical product tanks with a storage capacity of nearly 20 million cubic meters. There is an annual capacity of 80 million tons, and nearly 70% crude oil transshipped in Northeast region. And the crude oil transfer “original turn” service brand is more famous in the industry. In order to complete the task of unloading crude oil in the first domestic ship futures, Dalian Port has implemented relevant operational procedures in advance and carefully deployed the ship berthing plan. With focusing on safety and efficiency, it successfully completed the unloading operation of first domestic Oil Feature.

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