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Bank Acceptance Notes (Detail) (USD $)
9 Months Ended
Sep. 30, 2013
Dec. 31, 2012
Sep. 30, 2013
Dalian Xingyuan Marine Bunker Co Ltd
CITIC Bank
Sep. 30, 2013
Dalian Xifa Petro Chemical Ltd
Group One
CITIC Bank
Sep. 30, 2013
Dalian Xifa Petro Chemical Ltd
Group Two
CITIC Bank
Sep. 30, 2013
Dalian Xifa Petro Chemical Ltd
Group Three
CITIC Bank
Sep. 30, 2013
Dalian Xifa Petro Chemical Ltd
Group Four
CITIC Bank
Sep. 30, 2013
Dalian Haode PetroChemical Ltd
Group One
CITIC Bank
Sep. 30, 2013
Dalian Haode PetroChemical Ltd
Group Two
CITIC Bank
Sep. 30, 2013
Dalian Haode PetroChemical Ltd
Fuxin Bank
Group Three
Sep. 30, 2013
Dalian Fusheng Petro Chemical Ltd
CITIC Bank
Sep. 30, 2013
Dalian Fusheng Petro Chemical Ltd
Xingye bank
Group One
Sep. 30, 2013
Dalian Fusheng Petro Chemical Ltd
Xingye bank
Group Two
Sep. 30, 2013
Dalian Fusheng Petro Chemical Ltd
Xingye bank
Group Three
Debt Instrument [Line Items]                            
Origination Date     Apr. 23, 2013 [1] Apr. 19, 2013 [1] Apr. 22, 2013 [1] May 08, 2013 [1] May 16, 2013 [1] May 16, 2013 [1] Apr. 07, 2013 [1] Sep. 27, 2013 [2] Apr. 17, 2013 [1] Sep. 24, 2013 [3] Sep. 25, 2013 [3] Sep. 17, 2013 [3]
Maturity Date     Oct. 18, 2013 [1] Oct. 11, 2013 [1] Oct. 17, 2013 [1] Nov. 16, 2013 [1] Nov. 13, 2013 [1] Nov. 13, 2013 [1] Oct. 16, 2013 [1] Mar. 26, 2014 [2] Oct. 10, 2013 [1] Mar. 23, 2014 [3] Mar. 24, 2014 [3] Mar. 16, 2014 [3]
Interest rate     5.50% [1] 5.50% [1] 5.50% [1] 5.50% [1] 5.50% [1] 5.50% [1] 5.50% [1] 3.60% [2] 5.50% [1] 3.60% [3] 3.60% [3] 3.60% [3]
Amount $ 117,880,190 $ 19,679,104 $ 6,518,480 [1] $ 13,036,960 [1] $ 13,036,960 [1] $ 9,777,720 [1] $ 9,777,720 [1] $ 13,036,960 [1] $ 6,518,480 [1] $ 4,074,050 [2] $ 9,777,720 [1] $ 17,925,820 [3] $ 6,251,222 [3] $ 8,148,100 [3]
[1] During the second quarter ended June 30, 2013, the Company’s subsidiary Dalian Fusheng borrowed $65.1 million (RMB 400 million) bank notes from CITIC bank, and the Company’s subsidiary Dalian Xingyuan also borrowed $16.2 million (RMB 100 million) bank notes from CITIC bank. In connection with the borrowings, Dalian Fusheng pledged fuel oil tanks valued at $19.6 million (RMB 120.3 million) as collateral. In addition, the Company is required to hold restricted cash of $55.4 million with CITIC Bank as additional collateral against these bank acceptance notes. These bank notes have been subsequently repaid upon maturity.
[2] On September 27, 2013, the Company’s subsidiary Dalian Xingyuan borrowed $4 million (RMB 25 million) bank notes from Fuxin Bank as working capital for six months. The Company is required to deposit restricted cash of $4 million with Fuxin Bank as collateral against this bank acceptance note.
[3] During the third quarter ended September 30, 2013, the Company’s subsidiary Dalian Xifa borrowed total of $32.3 million (RMB 198.3 million) of bank notes from Xingye Bank as working capital for six months. The Company pledged land use right of 46,142 square meters valued at $1,637,768, oil storage tank and other fixed assets valued at $21.1 million as collateral. In addition, two related parties Panjing Fusheng Petrol Co., Ltd. and Donggang Xingyuan Fishery Wharf Gas Station pledged land use right and fixed assets valued at $633,922 as additional collateral for these bank notes. The Company is also required to hold restricted cash of $9.69 million with Xingye Bank as additional collateral against these bank acceptance notes.