Andatee China Marine Fuel

Andatee China Marine Fuel Service Corporation was incorporated in July 2009 as a China-based marine-fuel business headquartered in Dalian. Its business model combined wholesale and retail distribution of oil-fuel products for ships and vessels. The company focused its commercial activity on Tianjin and the provinces of Liaoning, Shandong, Jiangsu, and Zhejiang, placing it in the marine and port economies of Northern and Eastern China. The company's structure drew on entities established both before and after its incorporation. In August 2009, one month after incorporation, Andatee acquired Goodwill Rich International Limited in Hong Kong as a wholly owned subsidiary. Goodwill Rich later created Fusheng Consulting Company in Dalian, which was associated with Dalian Fusheng Petrochemical Company and its variable interest entity. Another important subsidiary, Xing Yuan, had been founded in September 2001. Xing Yuan was described as a joint venture with the Dalian subsidiary of CPC Corp., identified in the reference material as China Petroleum and Chemical Corporation. In March 2009, an agreement provided Goodwill Rich with the operating rights and benefits of Xing Yuan and its subsidiaries. Andatee completed an initial public offering on NASDAQ in January 2010. The company operated in a Chinese marine-fuel market characterized in the reference material as fragmented and limited. It supplied blended marine-fuel products to ships and vessels and was described as having an influential brand among customers in that sector. The same material characterized Andatee as the largest privately owned marine-fuel provider in Northern China, with an estimated 25 percent share of the Bohai Bay market. A documented corporate development occurred on January 7, 2014, when Andatee announced several executive-management changes. Wang Hao was named chief executive officer. The available source does not provide enough information to establish the subsequent trajectory of the business, including later ownership, listing status, operating footprint, financial results, or current management. The company's present status therefore remains unconfirmed.

• 2014

  Executive management changes

  [1]Andatee China Marine Fuelen.wikipedia.org

  Andatee announces management changes on January 7, including the appointment of Wang Hao as chief executive officer.

• 2010

  NASDAQ initial public offering

  [1]Andatee China Marine Fuelen.wikipedia.org

  The company completes its initial public offering on NASDAQ in January.

• 2009

  Goodwill Rich receives operating rights relating to Xing Yuan

  [1]Andatee China Marine Fuelen.wikipedia.org

  In March, an agreement gives Goodwill Rich International Limited the operations and benefits of Xing Yuan and its subsidiaries.

• 2009

  Andatee is incorporated

  [1]Andatee China Marine Fuelen.wikipedia.org

  Andatee China Marine Fuel Service Corporation is incorporated in July.

• 2009

  Goodwill Rich is acquired

  [1]Andatee China Marine Fuelen.wikipedia.org

  In August, Andatee acquires Goodwill Rich International Limited in Hong Kong as a wholly owned subsidiary.

• 2001

  Xing Yuan is established

  [1]Andatee China Marine Fuelen.wikipedia.org

  Xing Yuan, later associated with Andatee's corporate structure, is founded and operates as a joint venture with the Dalian subsidiary of CPC Corp.

A Northern China-focused private marine-fuel supplier serving vessels through wholesale, retail, and blended-fuel operations, with particular exposure to the Bohai Bay market.

• Marine fuel

  Blended marine fuel

  Andatee supplied blended marine-fuel products intended for ships and other vessels in China. These products formed part of the company's role as a fuel wholesaler and retailer serving port and maritime customers, particularly across Northern and Eastern China.

• Marine fuel

  Oil fuel products

  The company's broader offering consisted of oil-fuel products sold through wholesale and retail channels to maritime customers. The available reference identifies the product category and geographic focus but does not provide individual product names, specifications, or current availability.

• 2014

  Executive-management reorganizationStrategy

  Background

  Andatee announced management changes while operating as a marine-fuel supplier in China's fragmented market.

  Action taken

  On January 7, the company announced a series of executive changes and appointed Wang Hao as chief executive officer.

  Aftermath

  The supplied reference does not document the longer-term effects of the management changes.

  Source

• 2010

  Completion of NASDAQ initial public offeringOther

  Background

  After its 2009 incorporation and acquisition of Goodwill Rich, Andatee pursued a public-market listing.

  Action taken

  The company completed an initial public offering on NASDAQ in January 2010.

  Aftermath

  The available reference confirms the offering but does not provide subsequent listing, share-price, or financial information.

  Source

• 2014

  Andatee announces executive management changes[1]Andatee China Marine Fuelen.wikipedia.org

  Leadership change

  On January 7, 2014, Andatee announced a series of executive-management changes, including the appointment of Wang Hao as chief executive officer.

1. 1Andatee China Marine Fuelen.wikipedia.org