Alphabulk: IPO is a questionable solution for bulk carriers
Several dry bulk companies on the NYSE, such as Dryships, Starbulk, Navios, and Scorpio, have raised billions of dollars since 2005 and have at the same time lost even greater amounts. The question is whether the stock exchange is a good fit for dry bulk shipowners, Alphabulk writes.
BY KATRINE GRØNVALD RAUN
Unfathomable amounts of money are generated on the stock markets around the world, and since 2005, a number of prominent dry bulk carriers have raised USD 4.4 billion from initial public offerings in New York as well as generated fresh capital afterwards on the market. This concerns carriers such as Dryships, Genco, Star Bulk, Scorpio, Navios and more, which have recently delivered guaranteed losses in the collapsed dry bulk market.
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