Thu 14 Jan 2010 17:08

Andatee China IPO scheduled for next week


Andatee China Marine Fuel Services is set to make its NASDAQ debut in seven days.



China's Andatee China Marine Fuel Services (ACMF) is set to make its stock market debut on the NASDAQ exchange next week, according to market reports.

The Dalian-based bunker supplier is one of two Chinese ADRs (American Depository Receipts) expected to be listed on the US stock exchange on Thursday 21st January, with the other being China Hydroelectric (CHC), a small hydropower plant operator.

Andatee China is offering 2,500,000 shares of its common stock as American Depositary Shares (ADSs). ADSs are U.S. dollar-denominated equity shares of a foreign-based company available for purchase on an American stock exchange.

The initial public offering price for the shares have been estimated at between $6.00 and $8.00 per share. Andatee China will be listed under the symbol "AMCF".

Andatee China Marine Fuel Services Corp. is engaged in the production storage and distribution of blended marine fuel. The company's operating business Dalian Xingyuan Marine Bunker Company Ltd. supplies mainly 180-centistoke (cst) and 120-cst product to small and medium-sized fishing vessels and cargo ships in the provinces of Liaoning, Shandong and Zhejiang.

Dalian Xingyuan was founded in 2001 and currently operates three bunkering tankers and one specialized oil supply wharf.

The company sources its petroleum products mainly from the Dalian Petrochemical Branch China National Petroleum stock company and other local refineries.

According to Dalian Xingyuan, the company supplies over 250,000 tonnes per year in Dalian to customers such as Dalian Shipping Ring Group and Sinopec. Its short term goal is to attain annual sales of 350,000 tonnes within the next two years and has set itself the long-term objective of selling between 500,000 tonnes and 1 million tonnes per year, achieving an annual sales income of 4 billion Yuan and becoming a major fuel oil player in northeastern China.


Lease agreement between Inter Terminals Sweden and the Port of Gothenburg, signed on July 1st. Pictured: Göran Eriksson, CEO of the Port of Gothenburg (left) and Johan Zettergren, Managing Director of Inter Terminals Sweden (right). New Gothenburg lease an opportunity to expand green portfolio: Inter Terminals  

Bunker terminal operator eyes tank conversion and construction projects for renewable products.

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The M/T Jutlandia Swan, operated by Uni-Tankers. Uni-Tankers vessel gets wind-assisted propulsion  

Fourth tanker sails with VentoFoil units as manufacturer says suction wing technology is gaining traction.

Port of Gothenburg Energy Port. Swedish biomethane bunkered in Gothenburg  

Test delivery performed by St1 and St1 Biokraft, who aim to become large-scale suppliers.

Image from Cockett Marine Oil presentation. Cockett to be closed down after 45 years  

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Petrobras logo. Petrobras confirms prompt availability of VLS B24 at Rio Grande  

Lead time for barge deliveries currently five days.

Opening of the IMO Marine Environment Protection Committee (MEPC), 83rd Session, April 7, 2025. IMO approves pricing mechanism based on GHG intensity thresholds  

Charges to be levied on ships that do not meet yearly GHG fuel intensity reduction targets.

Preemraff Göteborg, Preem's wholly owned refinery in Gothenburg, Sweden. VARO Energy expands renewable portfolio with Preem acquisition  

All-cash transaction expected to complete in the latter half of 2025.

Pictured: Biofuel is supplied to NYK Line's Noshiro Maru. The vessel tested biofuel for Tohoku Electric Power in a landmark first for Japan. NYK trials biofuel in milestone coal carrier test  

Vessel is used to test biofuel for domestic utility company.

Pictured (from left): H-Line Shipping CEO Seo Myungdeuk and HJSC CEO Yoo Sang-cheol at the contract signing ceremony for the construction of an 18,000-cbm LNG bunkering vessel. H-Line Shipping orders LNG bunkering vessel  

Vessel with 18,000-cbm capacity to run on both LNG and MDO.


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