marine-fuel-supplier-chemoil-seeks-370-million-in-singapore-ipo

Marine fuel supplier Chemoil seeks $370 million in Singapore IPO

Valuation in line with main industry comparable, but investors glancing at Singapore commodities trader could help drive demand.
Chemoil Energy has kicked off the roadshow for an initial public offering that aims to raise up to $373.6 million ahead of a listing in Singapore next month.

Originally set up in the US in 1982 but now incorporated in Hong Kong and headquartered in Singapore, the company is one of the largest integrated suppliers of marine fuel. Essentially a ôgas station for shipsö, Chemoil controls the entire flow of fuel from purchase, blending, transportation and delivery to the end-customer.

This cost efficient approach and the convenience of dealing with one party for global re-fuelling needs has attracted some of the largest shippers in the world. In the 18 months to June 2006, ChemoilÆs key...
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