Qingdao Shihua crude oil terminal at Qingdao port became China's first to exceed annual oil product throughput of 100 million tons as of 6 am on Dec. 18.

This event was celebrated by the 50 oil traders and refineries attending the 2018 international crude oil trade development conference held at Qingdao port on the afternoon.

As the seventh largest port globally, the Qingdao port handles a diversity of cargo, including container-cargo, metal ore, coal, and liquid bulk cargo. The Shihua terminal is a subsidiary of Qingdao port that specializes in liquid bulk cargo. It is also the largest oil product transshipping base among all seaports on Chinese mainland, with the largest tank park capacity in the country, encompassing seven docks and 12 berths at the harbor districts of Huangdao and Dongjiakou.

Qingdao port's crude oil business started in 1976, and has now developed into a comprehensive oil product distribution center, with its uploading capacity of imported oil product topping the country for years.

After infrastructure construction and service improvement in recent years, the port enjoyed rapid growth and now aims to evolve into an international distribution center for crude oil, through the construction of a platform for bonded trade of spot crude oil and crude oil futures that integrates finance, commerce, and logistics.