Strong freight markets fuel shipping IPO frenzy

摘要

The continued strength of freight markets in several sectors continues to feed the shipping IPO market. Add to this the acquisition of Navios by International Shipping Enterprises for $607.5M and a $173M share issue of Nordic American Tanker Shipping (NAT), and the finance side of shipping in the US seems very busy, indeed. On the IPO side, Diana Shipping, with seven Panamax bulk carriers, intends to raise up to $210M by issuing 12.37M shares at a price of $15-17 per share.