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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Hanjin to Return 38 Vessels Next Year

Hanjin Shipping is planning to return a total of 38 chartered vessels once their contracts end as part of its restructuring efforts, reports korea Herald.   A

Morocco Sells 40% Stake in Port Operator in IPO

The Moroccan government raised 1.94 billion dirhams ($197 million) by selling a 40 percent stake in state-owned port operator Marsa Maroc in the country's first initial public offering this year,

Panamax Vessel Demand Keeps Baltic Index Up

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday for a fourth straight session as higher demand

Maritime Safety

Tanker Crewman Medevaced off Virginia

The U.S. Coast Guard medevaced an ailing crew member Saturday from a tanker off Virginia Beach.   Coast Guard watchstanders at the 5th District Command Center

Day of Seafarer: ICS Highlights Seafarers Role in Migrant Rescues

Gerardo Borromeo, Vice Chairman of the International Chamber of Shipping (ICS) took the opportunity today to highlight the courage that is currently being displayed by seafarers,

USCG Investigates Unknown sheen in Lake Ontario

The Coast Guard is responding to a report of a sheen in Lake Ontario near the Fitzpatrick Nuclear Power Plant in Scriba, New York, approximately 10 miles northeast of Oswego, New York, Sunday.

 
 
Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Ship Repair Ship Simulators Sonar
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: 0.0765 sec (13 req/sec)