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

No Lift for Konecranes as Q1 2014 Profit Slips

Finnish crane maker Konecranes on Thursday reported a 32-percent fall in its core quarterly operating profit amid slow demand and tight competition. January-March operating profit,

GulfMark Offshore Records Highest Ever Q1 Revenue

Houston-based GulfMark Offshore President & CEO Quintin Kneen commented on his company's first quarter 2014 financial report: "We recorded our highest first quarter revenue ever,

Hong Kong Receive BMT Maritime Strategic Study

BMT Asia Pacific (BMT), a subsidiary of BMT Group Ltd, says it has completed a major strategic study - “Enhancing Hong Kong’s Position as an International Maritime Centre (IMC)”,

Maritime Safety

China Court Releases Japanese Ship After Payment

A Chinese court said on Thursday that it has released a ship owned by Japanese shipping firm Mitsui O.S.K. Lines Ltd, which had been seized in a contract dispute, after the Japanese firm paid up.

Claxton’s Camera Upgrade Puts Crane Safety in Focus

Claxton Engineering Services Ltd, an Acteon company, launched the latest version for its ATEX and safe-area crane boom cameras to improve operational safety through

Safety the Focus as Heavy Lifting Picks Up

Modern heavy lift capabilities are crucial for safe, efficient operations offshore Heavy lift operations offshore are an awe-inspiring feat, but an operation that

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Ship Simulators 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: 0.0983 sec (10 req/sec)