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Tankers and Gas Finance Frontline

Do Okeanis’ offerings point to revival of NAV-premium equity raises?

  • Okeanis sold 3.61m shares, grossing $130m, to fund two suezmax newbuild resales, its second follow-on offering since November
  • Crude tanker rate rally has persisted, pushing share valuations to sustainable premiums to NAV, opening the door to further share offerings
  • Large shipping follow-on offerings have been extremely rare over the past decade

  • Analysis

It’s a great time to be an investor in crude tanker equities. Rates are booming. And yet, there is trepidation that crude tanker owners will issue new shares to buy assets at the peak of the cycle

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    This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support at +44 (0)20 3377 3996 / APAC support at +65 6508 2430

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