P&O To Delay ABS Stock Floatation

Monday, June 26, 2000
Peninsular & Oriental Steam Navigation Co. is indefinitely postponing the planned flotation of its Associated Bulk Carriers (ABC) unit because of stock market conditions. Shares in the business would have been listed on the Oslo Stock Exchange in an initial public offering next month, valuing it at around $187.9 million. But the group said in a statement it had decided not to go ahead with the flotation for the time being, because of market conditions in Oslo. he decision reversed P&O's plans to bring the float forward on the back of a recovery of the bulk shipping market, which has been depressed over past two to three years. ABC is one of the world's largest independently owned operators of Capesize bulk carriers and has a fleet of 22 dry cargo vessels ranging in size from 110,000 to 210,000 dwt. Under the float, on which P&O is being advised by Christiania Markets, P&O was due to sell between 17.7 million and 20.3 million shares.
Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

DryShips: Public Offering of Its Senior Secured Notes

DryShips Inc. announced today that it intends to offer senior secured notes due 2017 (the “Notes”) pursuant to its effective shelf registration statement. The Company

Scanjet Secures 30-ship Tank Management Order

Scanjet Group has followed up its Tank Management order from Stolt-Nielsen with a series of contracts for its ITAMA Intelligent Tank Management concept including Tankcleaning,

Chinese Manufacturing Expansion Affects Shipping Demand

The expansion of the Chinese Manufacturing Industry continued in September at unchanged pace as compared to the month before, BIMCO reports. The manufacturing industry

Finance

Yara Completes Acquisition of OFD Holding

Yara International ASA has obtained relevant regulatory approvals and closed the acquisition of OFD Holding Inc. (OFD) allowing the integration process to start.

Vallianz Acquires OER Holdings for $28m

Vallianz Holdings Limited, a provider of offshore support vessels and integrated marine solutions to the oil and gas industry, has today announced that it is acquiring OER Holdings Pte.

DryShips: Public Offering of Its Senior Secured Notes

DryShips Inc. announced today that it intends to offer senior secured notes due 2017 (the “Notes”) pursuant to its effective shelf registration statement. The Company

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Offshore Oil Pipelines Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction 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: 0.1487 sec (7 req/sec)