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Changhang oil transportation and Sinopec fill the gap in the ethylene transportation market

recently, good news came from Changhang oil transportation. The company will work with Sinopec to build China's own ethylene transportation fleet and fill the gap in the domestic ethylene transportation market

according to the announcement of Changhang oil transportation on April 9, the company will jointly invest with Sinopec Chemical sales company to establish a limited company to cooperate in the business related to ethylene waterway transportation. The registered capital of the new company is 150 million yuan, and Changhang oil transportation contributed 105 million yuan in cash, accounting for 70% of the registered capital; Sinopec Chemical Sales Co., Ltd. contributed 45million yuan in cash, accounting for 30% of the registered capital

ethylene transportation has long been subject to foreign

ethylene is one of the most important petrochemical raw materials, and its capacity is a symbol of a country's petrochemical capacity. Due to its physical and chemical properties, ethylene transportation must be carried out at -103 ℃. At present, there is no low-temperature ship that meets its loading requirements in China, which is in the blank stage, and the shipping of ethylene can only be realized by foreign ships

according to the relevant regulations of China, foreign ships are not allowed to engage in the domestic trade transportation business between two ports in China, which directly leads to the centralized display of its latest developed adhesive products and solutions (Bayer booth number: a0902). As a result, the ethylene sales and procurement of domestic petrochemical enterprises can only be completed through import and export. Even if the enterprises in Sinopec system balance and allocate ethylene resources mutually, they can only be forced to pursue import and export trade at a short distance due to the constraints of the transportation ring, which not only causes waste in resource allocation and economic losses, but also forces valuable ethylene resources to flow abroad in the case of a large number of domestic gaps, resulting in a large loss of benefits. Foreign companies almost dominate the ethylene market in Asia through long-term control of ethylene ships

"at present, the approval procedures for domestic ethylene shipping are very cumbersome. At the same time, because there are no domestic ships carrying ethylene, ethylene transportation has long been controlled by foreign trading houses, and Chinese enterprises are at a disadvantage in the negotiation of ethylene import and export and shipping market", Wu Mingjun, director of Sinopec Chemical Industry Division, said frankly in this regard

according to experts, with the rapid expansion of ethylene production capacity under the contract of domestic Jinneng science and technology new materials and hydrogen energy comprehensive utilization project in the future, the demand for ethylene transportation in China will become increasingly frequent. Building China's ethylene transportation fleet and breaking the bottleneck restricting the development of ethylene transportation in Chinese petrochemical enterprises are both the practical needs of domestic petrochemical enterprises' own business development, and at the same time, It also provides a rare development opportunity for Chinese shipping enterprises

challenge the transportation of high-end chemicals

on December 28, 2009, Changhang oil transportation and Sinopec Chemical sales company held a "signing ceremony of ethylene ship joint venture cooperation agreement" in the ancient city of Nanjing, marking the start-up stage of the two sides' joint efforts to build China's ethylene transportation fleet. This is also a major move of Changhang oil transportation, which is committed to serving petrochemical enterprises and promoting the "strategy of extending to the high end of the industry"

due to the physical and chemical properties of ethylene, the entry threshold for its transportation is higher, the management requirements are stricter, and it is more difficult. The leadership of Changhang oil transportation company paid close attention to the situation of ethylene transportation in domestic petrochemical enterprises. "Li Wanjin, general manager of Changhang oil transportation company, and other members of the leadership team, led a team to visit Sinopec and relevant national competent departments for many times to negotiate repeatedly on contracting ethylene transportation and coordinate and solve relevant problems. After various efforts, in May 2008, Changhang oil transportation company successfully entered the domestic ethylene water transportation in the form of air charter foreign ships.

"To completely reverse the passive situation that ethylene transportation has been controlled by others for a long time, we must own, operate and manage our own ethylene ships. With more than 30 years of professional experience in the transportation industry of dangerous goods on water, long haul oil transportation has the confidence and ability to challenge the ethylene transportation market of high-end chemical products, realize the" national oil transportation "and maintain national economic security", General manager Li Wanjin is confident in building a state-owned ethylene transportation fleet

while chartering foreign ships for domestic ethylene transportation, long haul oil transportation timely organized relevant personnel from the company's shipping operation Department, ship technology department and other relevant personnel to inspect the ethylene ships of foreign ships, and learned about the operation, protection, equipment application, ship management and other aspects of ethylene ships on the spot. At the same time, internal and external experts were quickly formed to carry out extensive research and demonstration on the feasibility of the scheme of owning, operating and managing its own ethylene transport fleet for long-distance oil transportation, and steadily promote the preliminary preparations for independent staffing, independent operation and independent management of ethylene ships

it is reported that the first batch of 51 ethylene crew members of Changhang oil transportation began to receive centralized training on January 23 this year. The training of the first batch of ethylene crew, the selection of personnel, the determination of training content and how to assess have been carefully organized and planned. At present, these crew members have focused on the training of business practice after the training of relevant competency certificates. After the training, the company will also carry out strict assessment and evaluation. Only after passing the assessment and evaluation can they be qualified to undertake the company's ethylene ship

the prospect of the joint venture is promising

according to the announcement of Changhang oil transportation, it is expected that this foreign investment will have a positive impact on the future operating income and profit growth of the company

it is understood that Changhang oil transportation is an important enterprise in the shipping business of Sinotrans Changhang group, and it is also the platform for the group to develop the oil transportation business. It has strong competitive strength and good reputation in the industry

Sinopec Chemical sales company is a subordinate branch of Sinopec, which is responsible for the resource planning, marketing, product sales, logistics of petrochemical products produced by Sinopec affiliated enterprises, as well as the procurement and supply of relevant chemical raw materials required by Sinopec affiliated enterprises. It is currently the largest professional petrochemical trading company integrating domestic and foreign trade, with an annual operation of more than 20 million tons of chemical products

insiders pointed out that in October 2009, Sinotrans Changhang group and Sinopec Group signed a strategic cooperation agreement, opening a new era of further cooperation and win-win results between the two groups. This time, the two central enterprises joined hands in ethylene projects to realize the combination of upstream and downstream strengths and form complementary advantages, which is of great significance to the development of the domestic ethylene industry. The follow-up development of the joint venture is worth looking forward to

"this cooperation between the two sides has set a precedent and will be recorded in the history of the development of chemical industry in China", lichengfeng, general manager of Sinopec Chemical sales company, said bluntly at the signing ceremony of the joint venture cooperation agreement between the two sides. When analyzing the domestic ethylene transportation market, he said that the ethylene transportation business is very promising. At present, there are many ethylene businesses imported from the Middle East, and the domestic ethylene market is also developing rapidly. In 2009, five ethylene production enterprises have been put into operation in China. I am very optimistic about the ethylene shipping market. At the same time, he also said that the chemical sales company will work with Changhang oil transportation to take good care of this joint venture, let it thrive, do better and create more value for both sides

it is reported that as the largest ethylene production enterprise in China, Sinopec's large ethylene plants in Fujian, Tianjin and Wuhan have been put into operation successively, which will greatly increase the domestic ethylene production

some insiders assert that by 2015, the domestic ethylene production capacity will reach about 13million tons, which will become the second largest ethylene producer in the world after the United States, and the ethylene transportation will be optimistic for a long time

"with the promotion and implementation of the joint venture and cooperation agreement, while filling the gap in domestic ethylene transportation, we will certainly bring further improvement in operating efficiency and economic benefits to both sides." general manager Li Wanjin is very optimistic about the prospect of this ethylene project cooperation

it is understood that under the policy background of "national transportation of oil and goods", China has established a shipping company specializing in ethylene transportation, built China's own ethylene transportation fleet, and filled the gap in ethylene transportation in the country, which has also been fully affirmed by the national competent authorities

"Changhang oil transportation can enter the domestic ethylene water transportation in the form of air chartering foreign ships, and now it can work with Sinopec to build ethylene ships with five-star red flags, which are inseparable from the strong support of the Ministry of transport and other competent departments of China", Ding Wenjin, deputy general manager in charge of the operation of Changhang oil transportation, was deeply impressed

according to the analysis of authoritative people, the establishment of professional ethylene shipping companies is a specific action for shipping and petrochemical enterprises to challenge the transportation of high-end chemicals and ensure the safety of national energy transportation. Since then, China's strong voice will be heard in the international ethylene shipping market. At the same time, the first ethylene shipping company in China will also be supported by relevant national policies, which will provide strong support and guarantee for the subsequent development of the company

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