Odfjell nr 3 - 2005.indd

up to 50,000 dwt. For crude oil and LPGthere are ten docks ranging from 5,000to 300,000 dwt, and another 300,000dwt dock is planned.The central government in China hasdecided to develop Northeast Chinaalong the Yangtze delta area. Incentivesfor investments have already resultedin several petrochemical expansionsin Northeast China, and new capacitiesof ethylene will bring about additionalquantities of liquid chemicals.At the same time local enterprises willexpand their capacities of methanol andother chemicals. Consequently the needfor storage and transportation of bulkliquid chemicals in, to and from NortheastChina is expected to increase overthe next five years.In the future we can also expect importof petroleum products by non-Chineseinterests, as China will open up forforeign petroleum companies as from2006. This is an important reason whywe want to develop the new terminalinto a combined chemical/oil productterminal.As Odfjell’s JV shipping company OdfjellDongzhan will build and operate acoastal fleet in China, we believe therewill be substantial synergies with ourterminal activities both in Dalian andJiangyin. Through the past eight yearsof operation, OTD has built a solidcustomer base and is now controllingabout 60-70% of the chemicalvolume through Dalian. A network allover Northeast China has been established,which again can be used for thefuture Odfjell Chinese coastal fleet.Together with the terminal in Jiangyinand a coastal fleet, we will be able toprovide our customers with a totallogistics service.Preparing the ground for the new terminalRail connections are already in place, and neighbouring tank farms are wellestablishedPlotplan of the new OTD. The redtanks indicate the first developmentstage, the blue the tanks that willbe moved from the current Siergoplant, whilst the yellow show futureterminal developmentModel impression of the new terminalODFJELL Quarterly October 2005 7