rongsheng singapore for sale

SINGAPORE (Reuters) - Private Chinese oil refiner and petrochemical manufacturers Hengli Petrochemical Corp and Rongsheng Petrochemical Corp have each hired a new executive for its Singapore trading desk, company officials said on Wednesday.

Separately, Zhu Yanyu, previously a veteran oil products trading manager at state-owned oil and gas company PetroChina, started in June at Rongsheng Petrochemical (Singapore) Pte Ltd as a deputy general manager in charge of refined products trading, said two company officials.

The Singapore operation is the international trading unit for Rongsheng Petrochemical Corp, which is a key stakeholder in Zhejiang Petrochemical Corp (ZPC), one of China’s largest private refiners which operates a 400,000 barrels per day refinery in east China’s Zhoushan.

SINGAPORE, Dec 5 (Reuters) - Chinese conglomerate Zhejiang Rongsheng Holding Group has hired a senior crude oil trader to be based in its Singapore office, a company official said on Tuesday.

Trader Ray Liu, formerly from BB Energy and Sinochem Corp, will join Rongsheng International Trading Co in January, said the official who declined to be named.

The company set up a trading office in Singapore last year which will handle crude purchases as well as the trading of oil products and petrochemicals.

SINGAPORE, Jun 2, 2022 (China Knowledge) – China’s leading chemical company Rongsheng Petrochemical (002493) has moved up two notches this year to rank the 8th place on Top 10 Most Valuable Chemicals Brands. It is the only Chinese chemical brand that placed in the global top list that include multinational companies like BASF, SABIC, LG Chem, Dow, Linde, LyondellBasel, Asahi Kasei, Mitsubishi Chemical and Shin-Etsu.

With brand value worth US$2.3 bln, up 42.9% year on year, Rongsheng Petrochemical has become the most valuable Chinese brand in this year’s Chemical 25 ranking. Besides brand value, Brand Finance, also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance. In accordance to Rongsheng Petrochemical’s evaluation, its brand’s strength index moved up from an A+ rating in 2021 to an AA- rating in 2022.

What differentiate Rongsheng Petrochemical with domestic and foreign peers is the company’s emphasis and commitment on sustainability and green development. For example, it purifies carbon dioxide in its refining-petrochemical integrated complex, and using it to produce downstream chemical products. Renewal energy and material wise it is currently the largest supplier of solar-grade EVA for the photovoltaic industry as well as the largest supplier of food grade recycled PET bottle flakes in China.

In addition to its brand value Rongsheng Holding as a group is also listed in the Fortune Global 500 in terms of sales revenue. Last year the Chinese giant, as a group, was placed 255th with USD 44.7 bln revenue achieved in 2020. The latest Fortune Global 500 in 2022 to be published next month is expected to elevate many placings due to its whopping increase in revenue last year.

Mr. Meng Fanqiu has been the Deputy General manager of the company since 2019. Previously, he served as the Assistant General Manager at China Aviation Oil Group Corporation; Chief Executive Officer and Executive Director at China Aviation Oil (Singapore) Co., Ltd.; Chairman at Korea Yeosu Oil Terminal Co., Ltd., Director at China Aviation Oil (Europe) Co., Ltd.; Chairman at China Aviation Oil (Hong Kong) Company; Vice Chairman at Shanghai Pudong International Airport Aviation Fuel Co., Ltd. and China Aviation Oil (Singapore) Co., Ltd; Vice Chairman at Aviation Oil Group Xinyuan Petrochemical Co., Ltd.; Director at Investor Relations Professional Association (Singapore); President at the Singapore Chinese Enterprises Association; Director at the Singapore Federation of Industry and Commerce; Director at China Aviation Oil Group Tianjin-Beijing Pipeline Transportation Co., Ltd.; Vice Chairman at the China Industry and Commerce Group at the Singapore Federation of Industry and Commerce. Mr. Fanqiu currently aslo serves as the President at Singapore Chinese Enterprises Association.

Last October, the company entered into an agreementto sell 98.5% equity interest of Rongsheng Heavy Industries, the entire interest in Rongsheng Engineering Machinery, Rongsheng Power Machinery and Rongsheng Marine Engineering Petroleum Services, to Unique Orient, an investment holding company owned by Wang Mingqing, a creditor of Huarong Energy, for a nominal price of HK$1.

Once the largest private shipyard in China, Rongsheng ceased shipbuilding operations in 2014 after it was hit by a major financial crisis and the shipyard rebranded into Huarong Energy in 2015.