Stelmar Eyes Cyprus Bourse

Thursday, April 06, 2000
Tanker firm Stelmar Marine Holdings Ltd. officially applied on Wednesday for listing on the Cyprus Stock Exchange. The company was established in 1992 by Greek Cypriot entrepreneur Stelios Haji Ioannou and owns and operates a fleet of 12 tankers with an average age of eight years. The company is planning to raise $54.6 million through the Cyprus Stock Exchange for further expansion of the fleet. The amount will be raised through the issue of 42 million new shares of face value $1 at the flotation price of $1.30, the company said. Approximately 27 million shares will be placed with private investors and 15 million will be offered to the public. Company executives said Stelmar, which is now based in Athens and London but plans to create a small office in Cyprus, would use the additional liquidity to acquire six new tankers.

Finance

Canada May Ask Far-offshore Drillers to Pay Extra

Canada may ask oil companies to contribute to the hundreds of millions of dollars or more the country has to pay to an international body if they drill far offshore,

European Owners Lead in Buying Up Secondhand Tonnage

With European owners leading the pack in buying up vessels, the sale and purchase market appears to have been notably active in recent years, reveals Clarkson Research Services Limited.

Monjasa Bags Credit Facility from Société Générale

Danish bunker fuel supplier and shipping firm Monjasa has signed a credit facility with French bank Société Générale for USD 80 million.    A statement from

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Repair Ship Simulators
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: 0.0711 sec (14 req/sec)