VLGC owner Oriental Energy is reported to be considering an initial public offering (IPO) in Singapore for its trading and logistics arm.
Company officials are already said to have had discussions with the Singapore Exchange (SGX) and government officials, reports Bloomberg.
Other locations are being considered for the IPO, including Hong Kong, an unnamed official at the Nanjing-based owner was quoted as saying.
“Oriental Energy is keen to further tap the global capital markets,” the company said in a statement issued to Bloomberg.
“A potential IPO in the future, if proved strategic, will not be ruled out,” it added.
Oriental Energy is China’s largest LPG player and boasts the largest LPG distribution network and LPG storage facilities in the country.
It has also been boosting its presence in the VLGC segment ordering two 84,000-cbm gas carriers at Jiangnan Shipyard for delivery in 2020.
Oriental Energy also has VLGCs on 10-year contracts from various shipowners including Petredec, Pacific Gas Shipping and Kumiai Senpaku.
