Chinese chemical tanker operator Nanjing Shenghang Shipping has announced that it is looking to apply for an IPO and so has applied to terminate its share trading on China’s National Equities Exchange and Quotations (NEEQ).
Trading of the company on the NEEQ has now been suspended, ad Shenghang Shipping said the planned IPO fits the company’s long term development strategy.
Shenghang Shipping has been expanding its fleet, having acquired two secondhand chemical tankers and ordered one tanker newbuild in the past 12 months.
The company mainly operates in the domestic chemical tanker shipping market with a fleet of 12 chemical tankers.
