China's Ningbo Shuhua Opens Largest Crude Oil Terminal in Asia: Sinopec

Ningbo Shihua Crude Oil Terminal Co Ltd has opened a crude oil shipping terminal on Daxie Island in east China's Zhejiang province -- Asia's largest -- joint venture partner Sinopec said in a statement.

The terminal, which was opened Wednesday, has a length of 490 meters and is able to accommodate 20,000-450,000 mt tankers -- making it the largest in Asia -- state-owned Sinopec said. The terminal has a designed oil throughput of 17 million mt/year.

The new terminal is the third one at the site. Under the first phase of the project, Ningbo Shihua brought online two crude oil terminals, able to handle tankers with cargo capacities of 69,000 mt and 300,000 mt, respectively, in 2002.