Thu 14 Jan 2010, 17:08 GMT

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.


Repsol industrial complex in Puertollano. Repsol starts large-scale renewable fuel production at second Iberian plant  

Spanish energy company's Puertollano facility adds 200,000 tonnes per year of renewable diesel capacity.

SD Aisemaht vessel. World's first dual-fuel methanol escort tug receives full class certification  

ABS grants certification to SD Aisemaht, built by Sanmar Shipyards for Canada's Trans Mountain Expansion Project.

CMB.Tech and TFG Marine signing. CMB.Tech raises TFG Marine stake to 15% and consolidates bunker procurement through joint venture  

CMB.Tech increases its equity stake in TFG Marine and commits its entire fleet’s bunker requirements to the joint venture.

XFuel demo plant in Mallorca, Spain. XFuel secures EUR 4.1m Catalonia grant for waste-derived marine fuel plant  

Spanish start-up wins funding to build a modular facility converting waste oils into low-carbon marine gas oil.

Liquefied biogas facility at Port of Gothenburg render. Construction begins on liquefied biogas facility at Port of Gothenburg  

Nordion Energi's new plant aims to open up Swedish biogas supply to shipping and other sectors beyond the gas grid.

Sun Princess ship-to-ship (STS) LNG bunkering operation. Axpo completes first LNG bunkering of cruise ship at port of Naples  

Sun Princess bunkered at Naples, marking the first LNG operation on a cruise vessel at the Italian port.

Ship-to-ship (STS) HVO supply at Keihin Port. Kamei Corporation begins Japan’s first ship-to-ship HVO supply at Keihin Port  

Japanese energy company launches HVO bunkering operation using drop-in biodiesel fuel brand Susteo.

Uni-Fuels Logo. Uni-Fuels posts $376k net loss in Q1 2026 despite 64% revenue jump  

Singapore-based bunker firm attributes loss to communication expenses incurred during the period.

Participants of SSA training course. SSA launches green fuels training course ahead of low-carbon transition  

The Singapore Shipping Association has introduced a course covering alternative marine fuels and emissions frameworks.

The Nautical Institute (NI) logo. The Nautical Institute launches bunkering and engineering assessors course  

New programme targets behavioural competency and human factors in high-risk shipboard operations.