Ocean Tankers IPO to Raise $15m

Thursday, June 29, 2006
According to Financial Mirror, Ocean Tankers Holdings Public Co. will be the first ocean-going shipping company to go public on the Cyprus Stock Exchange later this summer, after the Nicosia bourse failed to attract the flotations of three other Cypriot-owned shipping companies. Stelios Haji-Ioannou’s Stelmar, Charalambos Mylonas’ Transmed and the Mouskas family’s Zela Shipping were all companies that took a stab at the island’s exchange and gave up as the CSE authorities deliberated endlessly about the criteria for listing. The Ocean Tankers initial public offering (IPO) of approximately $15m, representing 30% of the company after the flotation, is expected to take place during the next two months as Ioannides embarks on a pre-marketing road show where he will announce novel ways to protect shareholder interest. The funds raised from the listing will be used to expand the fleet with new tankers as Ioannides stays ahead of the competition and builds up his fleet of double-hull tankers. Ocean Tankers presently has three vessels in its fleet -- the 8,000 dwt Victor, the new Chinese-built 7,600 dwt Timi and the 4,500 dwt Eleousa Trikoukiotisa, built in 2000. Source: Financial Mirror
Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

All Items Approved at Stolt-Nielsen Meeting

Stolt-Nielsen Limited announced that all agenda items were approved and all nominated directors were elected at its Annual General Meeting of shareholders held yesterday in Bermuda.

Three European firms win Angola deepwater deals

Three European companies have won contracts for almost half the value of Angola's $16 billion ultra-deepwater Kaombo oil project, confirming a trend toward bigger

Litigation Can Cost Shipbrokers an Arm & a Leg

A survey of London solicitors by specialist intermediaries insurer ITIC has highlighted the high cost of litigation for shipbrokers and others seeking judgment in the English courts,

Maritime Safety

Hundreds Unaccounted for in S.Korea Ferry Disaster

For the parents of the many teenagers still missing after the Sewol ferry capsized off the coast of South Korea, the wait for news - good or bad - is almost unbearable.

Collision, Grounding and Anchor Draggings in Chesapeake Bay

The U.S. Coast Guard is working with local response agencies and the Virginia and Maryland Pilots Tuesday after receiving a report of a collision between two ships

Tug Spills 2,000 Gallons of Diesel Fuel

U.S. Coast Guard crewmembers are responding to a report of a fuel spill in the vicinity of Government Cut, Fla., Tuesday evening. Watchstanders at Coast Guard

 
 
Maritime Security Navigation Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0935 sec (11 req/sec)