ShippingWatch

Kristian Siem teams up with equity fund for offshore acquisitions

Alongside equity fund Elliot, Norwegian shipping magnate Kristian Siem plans to utilize the weak market through acquisitions. Everything is on the table, Kristian Siem tels ShippingWatch.

Photo: MPA

Through the recently established fund Siem Oil Service Invest Ltd, Norwegian shipping magnate Kristian Siem and New York-based equity fund Elliot Capital Management plan to target acquisitions in Norwegian offshore.

"The goal of the fund is to utilize the low values and we can do that by purchasing debt, shares, companies, or vessels," Kristian Siem tells ShippingWatch.

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