Odfjell in China Terminal Deal

Parcel tanker and terminal operator Odfjell and Hong Kong-listed Dalian Port (PDA) Co., have signed a deal with Caofeidian Industry Zone (CFDIZ) for the development of a “world class” tank terminal for oil and chemical products, including chemical gases. Odfjell and Dalian Port will form a joint venture company to design, build and operate this new tank terminal, which will be located within the CFDIZ. The project will, according top Odfjell involve the largest reclamation of port land at China, totalling 310 square kilometres.

The area allocated by the Industry Zone to this terminalling joint venture is over 750 000 square metres, with 1,600 metre waterfront with 15 metre water depth capable of taking ships of up to 100,000 dwt.

The Central Government of China says that Caofeidian will become the 'Rotterdam' of China due to its privileged location within the Bohai Sea as a gateway for serving metropolitan Beijing and with excellent road and rail connectivity to the Northern hinterland of China. With unique natural and geographical conditions, such as natural deep water draft adjacent to a 25 meter-deep natural water channel extending from Caofeidian directly to the Huanghai Sea, this joint project will allow access for deep sea chemical, product and even larger tankers, thus providing important economy of scale in transportation logistics.