Tanker giant Gener8's IPO looks like a disappointment

Poor proceeds and a low number of ships in the water are some of the reasons that a New York IPO for newly established crude oil carrier Gener8 does not look set to become a capital feast in spite of a booming tanker market.

The New York IPO for the next major tanker carrier, Gener8 Maritime, a merger between General Maritime and Navig8 Crude Tankers, is awaited with interest from the US financial market and in parts of the shipping industry. But judging by the company's share pricing at USD 14, the IPO of a new giant in the currently booming tanker market looks set for a slightly disappointing finish.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Further reading

Related articles

Latest news

See all jobs