Qingdao International Energy Exchange launches cross-border RMB transaction settlement services

Oil Port, led by Qingdao Port, and a trading company from Hong Kong have successfully closed a deal for 200,000 cubic meters of crude oil tank capacity on the Qingdao International Energy Exchange platform.

This transaction represents the platform's first-ever cross-border RMB settlement, marking a significant advancement in facilitating efficient and cutting-edge cross-border RMB settlement services by Qingdao International Energy Exchange.

Leveraging Shandong province's world-class shipping hub and petrochemical industry advantages, Qingdao International Energy Exchange is dedicated to establishing an international energy trading hub catering to the Shanghai Cooperation Organization, the Belt and Road Initiative, and Northeast Asia. The platform serves as a hub for essential resources within the oil and gas industrial chain, offering trading products for crude oil tank capacity in the near, medium, and long term. These products cover both long-term and short-term lease transactions, greatly increasing online tank capacity trading in Shandong Port Group.

To date, the platform has facilitated crude oil tank capacity transactions amounting to 852 million yuan ($119.05 million), with a trading volume reaching 30.77 million cubic meters. It has attracted over 360 industrial clients and enticed eight foreign port storage areas to engage in online tank capacity leasing activities, swiftly elevating its industry influence.

07/20/2026

From December 17 to 23, a delegation from the Shandong Provincial Government successfully visited New Zealand and Australia. Huo Gaoyuan, Party Secretary and Chairman of the Group, led the Shandong Port delegation accompanying the provincial government delegation. The delegation visited diplomatic missions, sister ports, and key partners in sectors such as timber and iron ore, while also hosting the Shandong Port Supply Chain Integrated Services Customer Exchange Conference (Australia). These efforts have contributed to promoting economic and trade cooperation between Shandong, New Zealand, and Australia, marking a new chapter of collaboration and shared vision.

07/20/2026

Adhering to the goal of building core competitive advantages and accelerating the drive to achieve the "Double Top" status of Shandong Port Group, Luhai Heavy Industry (under Shandong Port Equipment Group) and Longkou Port Company - Yantai Port (under Shandong Port Group) have collaborated on a key construction campaign. In just 10 days, the two units completed the relocation of three portal cranes, including one 16T-33m, one 40T-45m, and one 25T-33m crane. These cranes were moved to berths 18 and 25 at the Longkou port area and the Laizhou port area (under Yantai Port), demonstrating a commitment to providing top-tier equipment support and enhancing cargo handling capacity to achieve high throughput and outstanding performance.

07/20/2026

On March 12, Shandong Port Equipment Group Co., Ltd. held the third session of the first trade union member congress and the third session of the first employee representative congress. Carrying their assigned mission, 46 official delegates and 4 non-voting delegates from 4 delegations representing the group's headquarters and its subsidiaries attended the congress to earnestly fulfill their sacred responsibilities as representatives.

Related articles