Marine Link
Thursday, March 28, 2024
SUBSCRIBE

Seaways Shipping News

30 Mar 2016

Seaways Shipping Set to Go Public

Logistics service and solutions provider Seaways Shipping & Logistics Ltd has filed draft papers with the capital markets regulator Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). The IPO comprises fresh issue of shares worth  about $12 million through a fresh issue of sale and an offer-for sale of up to 6,445,224 equity scrips by the existing shareholders, including IDFC Private Equity, according to the Draft Red Herring Prospectus filed with Sebi. With this, Seaways Shipping has become the fifth company to file papers with SEBI this year for an IPO. The proceed of the fresh issue would be utilised for capital expenditure, repayment of loans and for other general corporate purposes.

19 Nov 2014

ICAP Shipping in Merger Talks

Shipping market prospects picking up after record downturn; shipbroker M&A deals have gathered pace this year. ICAP's shipping business is in merger talks with rival shipbroker Howe Robinson, the latest potential tie-up among sector players looking for scale after years of freight market turmoil. The shipping industry has suffered one of its worst ever downturns in the past five years. Owners ordered large numbers of vessels between 2007 and 2009, just as the global economy started to slow. Prospects have brightened recently as world trade picks up and the glut of ships is absorbed, but recovery remains fragile. In the meantime, many shipbrokers view larger operations with global teams as the best way to position for a full market revival.

03 Jun 2014

McQuilling Secures India Foothold with Seaways Shipping

Transportation and consulting services firm McQuilling Partners, Inc. says it has reached an agreement with Seaways Shipping and Logistics Limited (SSLL) to establish Seaways McQuilling Private Limited. Through offices located in Mumbai and New Delhi, the core business of the company will be to provide tanker, dry bulk, chemical and offshore brokerage services, as well as research and logistics consultancy within India and its related markets. McQuilling Partners and its companies has delivered over forty years of international marine transportation services and consultancy experience to Seaways McQuilling Private Limited, while Seaways provides over two decades of integrated shipping and logistics expertise to the partnership, specifically in India. Capt. Capt. P.V.K.

12 Nov 2007

Seaways Plans to Add Six Container Ships

Seaways Shipping Ltd, a Hyderabad-based maritime company, proposes to double its turnover to about Rs. 1,200 crore by the end of next fiscal (2008-09) by infusing funds through a Rs. 200-crore private equity (PE) and Rs. 500 crore of initial public offering (IPO). While the company has almost zeroed in on a single private equity investor to pump in the funds before the end of the current financial year, it plans to raise the IPO during 2008-09. P. V. K. Mohan, Chairman and Managing Director, reportedly said he planned to add six more container ships on the West Coast of India. Apart from adding container ships, the company planned to establish container freight stations at seaports and also in hinterland, increase freight forwarding services through air and sea, and add more containers.