Fuzhou-based Shun Yuen Group is targeting a Hong Kong stocklisting for 2018 with a fleet of 11 modern asphalt carriers, including eight newbuildings, all on long-term charters to end users.
The little-known company has been building up a Hong Kong-flagged asphalt carrier fleet since 2011 on expectations of a coming catch-up period in world demand.
A strategic analysis on the company’s website points to increasing dependence by the US, Australia and New Zealand on imported asphalt as production costs and environmental concerns push those markets towards foreign suppliers.
Shun
