Business

Argus Media: PetroChina, Sinopec to delist from US stock exchanges

Firms plan to file Form 25 around 29 August to formally delist from the NYSE based on the US Securities Exchange Act of 1934, with delisting to take place after ten days.

Published

4 years ago

August 15, 2022

Admin

Chinese state-controlled oil firms PetroChina and Sinopec have applied for voluntary delisting of their American Depositary Shares (ADS) from the New York Stock Exchange (NYSE).

12 August 2022

It is unclear if the move, which follows a trend of Chinese firms exiting US exchanges, will have much immediate impact on their operations. The companies are already listed on the Shanghai and Hong Kong stock exchanges.

PetroChina, whose ADS represents just 0.45pc of its total share capital cited “the relatively limited trading volume” of its ADS and “considerable administrative burden” for performing the disclosure obligations to maintain its ADS listing as reasons for the voluntary delisting. Sinopec cited a similar reason and its NYSE-listed unit, Shanghai Petrochemical, has also announced plans to delist.

PetroChina and Sinopec plan to file Form 25 around 29 August to formally delist from the NYSE based on the US Securities Exchange Act of 1934, with delisting to take place after ten days. Sinopec Shanghai will file Form 25 around 26 August.

The US Securities and Exchange Commission (SEC) has been pushing for more auditing transparencies from Chinese companies and has recently proposed for publicly-listed companies to disclose data on their greenhouse gas emissions.

Smaller state-controlled CNOOC was forced to delist from the NYSE late last year after the US alleged it had ties to the Chinese military and imposed sanctions that barred US investors from owning shares in the company. This also triggered its delisting from the Toronto Stock Exchange last year. The company has since switched to listing at the Shanghai stock exchange and is turning its focus to boosting domestic crude and gas output under a three-year program to accelerate upstream output growth.

Chinese securities regulator the CSRC has downplayed the impact of the latest delisting move. “The current delisting does not affect the companies’ use of domestic and foreign capital markets for financing and development as they are listed in other markets and their US shares form a small portion of overall shares”, it said.

Photo credit and source: Argus Media
Published: 15 August, 2022

LNG Bunkering

Singapore: Eastern Pacific Shipping hits 700 LNG bunkering milestone

Since commencing LNG bunkering operations in November 2020, the company said it has completed a total LNG bunkering volume of 2,920,191 cubic metres.

Published

12 hours ago

August 18, 2026

Admin

Singapore: Eastern Pacific Shipping hits 700 LNG bunkering milestone

Singapore-based shipping firm Eastern Pacific Shipping (EPS) on Monday (17 August) said the company has successfully completed its 700th LNG bunkering operation, carried out for vehicle carrier Lake Victoria in Emden, Germany.

Since commencing LNG bunkering operations in November 2020, the company said it has completed a total LNG bunkering volume of 2,920,191 cubic metres (m3).

“Reaching 700 LNG bunkering operations reflects not only the scale of our investment in alternative-fuel capabilities, but also the experience, coordination and commitment of our teams at sea and ashore,” EPS said in a social media post.

“As we continue to grow and diversify our fleet, every operation adds to the practical experience needed to support shipping’s energy transition.”

Manifold Times previously reported the company completed a total of 530 LNG bunkering operations with over 2.4 million m3 of LNG bunkered, from the start of recorded data to 31 Dec 2025.

In its 2026 ESG Report, EPS said its fleet is among the largest dual-fuel fleets in the industry, with over 170 vessels designed to operate on alternative fuels.

In 2025, 25% of the fuel consumed by EPS fleet were alternative marine fuels, including LNG, LPG, ethane, and biofuels.

Photo credit: Eastern Pacific Shipping
Published: 18 August, 2026

LNG Bunkering

Yang Ming dual-fuel vessel completes first SIMOPS LNG bunkering operation in Shanghai

“YM Willpower” successfully received around 2,000 mt of LNG alongside active cargo handling, significantly enhancing operational efficiency during the port call.

Published

12 hours ago

August 18, 2026

Admin

Yang Ming dual-fuel vessel completes first SIMOPS LNG bunkering operation in Shanghai

Taiwanese shipping firm Yang Ming Marine Transport Corporation (Yang Ming) on Monday (17 August) said its 15,500 TEU LNG dual-fuel vessel, YM Willpower, successfully completed its first-ever LNG bunkering operation via SIMOPS (Simultaneous Operations) at the Port of Shanghai.

Through close collaboration with Shanghai International Port (Group) and SIPG Energy Shanghai, the vessel successfully received around 2,000 metric tonnes (mt) of LNG alongside active cargo handling, significantly enhancing operational efficiency during the port call.

With LNG dual-fuel technology, the company said it is continuing to expand alternative-fuel bunkering capabilities, enhance operational flexibility and efficiency and advance lower-carbon shipping solutions.

Manifold Times previously reported YM Willpower completing its first bunkering operation in Singapore.

In 2026, Yang Ming will progressively introduce newly built 15,500 TEU class container vessels primarily fueled by liquefied natural gas (LNG) into its operating fleet.

The lead vessel, YM Willpower, completed partial LNG bunkering at the shipyard prior to delivery and was officially deployed on 8 February into Yang Ming’s Far East–Mediterranean MD2 service.

Photo credit: Yang Ming Marine Transport Corporation
Published: 18 August, 2026

Methanol

Fratelli Cosulich launches methanol-ready bunker tanker in China

Designed with MarineLINE-coated cargo tanks and methanol readiness from the outset, “Carlotta Cosulich” combines operational flexibility with future-fuel readiness.

Published

12 hours ago

August 18, 2026

Admin

Fratelli Cosulich launches methanol-ready bunker tanker in China

Genoa-based marine fuel supplier Fratelli Cosulich on Monday (17 August) announced the launch of its new methanol-ready bunker IMO II tanker, Carlotta Cosulich.

The launch of Carlotta Cosulich, the third of four sister vessels, took place at Taizhou Maple Leaf Shipyard in China, bringing together the project team, partners and stakeholders.

Silvia Bordon, General Manager, served as the vessel’s godmother during the ceremony.

“Designed with MarineLINE-coated cargo tanks and methanol readiness from the outset, Carlotta Cosulich combines operational flexibility with future-fuel readiness,” the company said in a statement.

Equipped with a five-tonne cargo crane and dedicated arrangements for Single Point Mooring (SPM) operations further enhances her versatility across a wider range of bunkering operations.

“Following the successful delivery of her two sister vessels, she brings us one step closer to completing this four-vessel programme and reinforces Fratelli Cosulich Group’s commitment to safety, innovation, sustainability and operational excellence,” the company added.

Photo credit: Fratelli Cosulich
Published: 18 August, 2026