Shandong Shipping is planning a Hong Kong stock market launch for its very large gas carrier (VLGC)-owning unit.
The Singapore-based unit, Pacific Gas, is likely to be floated in one or two years, industry insiders told IHS Maritime on 24 September at the International Shipping Strategic Development Forum 2015 in Shanghai.
Pacific Gas currently owns and operates four old VLGCs, and has six VLGC newbuildings on order, according to IHS Maritime & Trade’s Sea-web.com.
Of the six newbuildings, four have been fixed on bareboat charters to China’s Oriental Energy, which needs to import LPG as feedstock for its petrochemical business. The other two are expected to be deployed in the VLGC spot market.