A ship known as Leo was recently loaded with futures bonded delivery crude oil and left the 100,000-ton wharf of Guangxi Petrochemical to Maoming Petrochemical Plant. It is the first bonded delivery of crude oil futures in Western China.

Qinzhou Port and Qinzhou customs have established a special team and optimized their supervision model to ensure the bonded delivery of futures crude oil. This bonded delivery has served as a logistics distribution center for the Guangxi Qinzhou Bonded Port Area and expanded sales and services.

In China, crude oil in bonded tanks of designated crude oil delivery warehouses is under bonded supervision as the delivery subject matter for futures delivery. The Shanghai International Energy Exchange agreed to the international reserve of Guangxi Petrochemical in the Qinzhou Port area of the China (Guangxi) Pilot Free Trade Zone (FTZ) serving as its crude oil futures storage location, marking the landing of the domestic crude oil futures bonded delivery business in the port area.

Setting up a crude oil delivery warehouse in the Qinzhou Port area of the Guangxi FTZ will help it build the New International Land-Sea Trade Corridor.

Leo is docked at port. [Photo/WeChat account: gh_df8bc987e060]