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Shanghai Nanjiao Petrochemical Exchange has recently put a 128,000 cubic meters of oil product storage facility into operation at Zhoushan in east China's Zhejiang province, a company source told C1 on Thursday.

The terminal as the phase II project of the company is affiliated by a 150,000dwt jet, a 50,000dwt jetty and three 30,000dwt jetties, the source said.

The phase I project of 780,000 cbm of storage became operational in 2010.

The whole project is a joint venture between Shanghai Nanjiao Petrochemical Exchange (51%) and Zhoushan Century Pacific Chemical (49%).

Shanghai Nanjiao Petrochemical Exchange was established in December 2008 in the Shanghai Fengxian Economic Development Zone with private oil companies as main customers.