Construction-in-Progress

9 Months Ended

Sep. 30, 2013

Contractors [Abstract]

Construction-in-Progress

7. Construction-in-Progress

The construction projects in progress are to build facilities to expand production capacity in Tianjin, Donggang, Rongcheng and Wujiang areas. Construction costs mainly represent construction expenditures and equipment costs not yet in service. The Company completed three construction projects totaling $11.7 million (RMB 72.15 million) by the end of May 2013 after these projects passed the inspection conducted by local the government agencies. The remaining ongoing construction projects are expected to be completed by the end of 2013.

The Company’s construction-in-progress is as follows:

	September 30, 2013		December 31, 2012
Berth and berth improvements	$	573,983	$	529,556
Oil blending and storage tanks		903,883		12,330,639
Total	$	1,477,866	$	12,860,195