Ocean Tankers Plans $45M Rights Issue

Monday, November 05, 2007
Ocean Tankers Holdings, the only public company quoted in the ‘Shipping’ sector of the Cyprus Stock Exchange, is planning a $45m rights issue to part fund the acquisition of eight new oil tankers. A previous IPO raised $13.4m to float the company. Since then, the fleet has doubled from three to six tankers of 4,500 to 12,000 tonnes capacity, while two newbuildings are expected to be delivered in the second half of 2008. The new acquisition of eight recently-built ships with an average age of six years, will double the fleet to 16 vessels, with the new additions having a 15,000 to 20,000 tonnes capacity. The new ships, that will carry the Maltese flag, are committed to Lukoil for a ten-year charter. The purchase value is set at $284m, underwritten by ABN Amro. Revenue and profits too are expected to multiply, from $17.8m to about $60m and from $3.5m to $20m, respectively. [Source: http://www.financialmirror.com]
Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

De Beers Orders Specialized Ship from Kleven

Kleven signed a contract with diamond company De Beers Marine Namibia, part of De Beers Group, on the building of a highly specialized vessel for deep water mineral exploration.

Kalmar 5th Generation Gloria Reachstackers Enter US

Kalmar, part of Cargotec, is launching its highly acclaimed range of reachstackers, called Gloria into the Americas. The eagerly awaited launch follows the successful

NewLead Fixes Newcomer, "Newlead Castellano"

NewLead Holdings Ltd. announced today that it has entered into a time charter contract for the recently delivered Handysize vessel, the "Newlead Castellano".

Finance

Singapore Bunker Meter Mandate Targets 'Frothy Fuel'

Singapore, the world's biggest bunkering port, plans to end the so-called "cappucino effect" in ship fuelling through new meters designed to stop suppliers from short-changing customers,

Technip & Fluor Bag RAPID UIO Project

Technip, in a joint venture with Fluor, was awarded an engineering, procurement and construction management contract by PRPC Utilities and Facilities Sdn. Bhd.

Gazprom to Counter Negative Global Market Trends

The Gazprom Board of Directors took note of the information on the Company's financial strategy under the conditions of negative trends in the global financial

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Pipelines Pod Propulsion Port Authority Ship Electronics Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1198 sec (8 req/sec)