P&O Plans Associated Bulk Carriers IPO

Monday, April 03, 2000
An initial public offering of Associated Bulk Carriers on the Oslo stock exchange is expected to take place later this year, Peninsular and Oriental Steam Navigation Co. officials said.

P&O said it bought the 50 percent shareholding of joint venture partners Shougang Holding (Hong Kong) Ltd. and Shougang Concord International Enterprises Company Ltd. for a nominal sum, and would hold 100 percent of ABC until the IPO, when it will sell the majority of its holding.

ABC is one of the world's largest independently owned operators of Capesize bulk carriers with a fleet consisting of 22 dry cargo vessels ranging in size from 110,000 to 210,000 dwt with an average age of seven years, P&O said.

Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Kruszewski Joins Braemar Engineering

Braemar Engineering, the specialist maritime engineering consultancy, today announced the appointment of Chis Kruszewski to the role of Senior Electrical Engineer in its Offshore,

RigNet Partners Inmarsat to Offer Fleet Xpress

RigNet, Inc., a global provider of remote managed offshore communications solutions, telecoms systems integration services and collaborative applications to the oil and gas industry,

Italy's Eni Arrives Arctic as Shell Departs

As Shell retreats from the Arctic, the Italian oil giant Eni is making final preparations for its own oil exploration venture in the Norwegian Arctic, reports the Guardian.


Demands for Icebreaker Tours Spiral

Plans to terminate commercial tours to the North Pole on the nuclear-powered icebreakers of the Atomflot company in 2016 have surged the demand for these tours.

MARAD Funds Study on LNG As Propulsion Fuel

The Maritime Administration (MARAD) has announced a $900,000 cooperative agreement with Totem Ocean Trailer Express Inc. (TOTE) to further develop knowledge

Teekay LNG Partners Declare Distribution

Teekay GP LLC, the general partner of Teekay LNG Partners L.P. has declared a cash distribution of $0.70 per unit for the quarter ended September 30, 2015. The

Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Pipelines Ship Electronics Ship Repair 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: 0.2817 sec (4 req/sec)