Shipping crisis weakens investor interest
BW Group's cancellation of the IPO of its product tanker carrier BW Pacific could be bad news for Hafnia Tankers and other somewhat new companies with similar ambitions. Things are looking better for Torm, financial sources tell ShippingWatch.
BY KATRINE GRØNVALD RAUN AND JOHANNES HARTKOPF-MIKKELSEN
BW Group's cancellation of the Oslo IPO planned for its tanker carrier BW Pacific could spell bad news for Danish-based Hafnia Tankers' own IPO plans in New York in the near future. BW's move to cancel the IPO, which was to have generated USD 250 million, also reveals that investors have become picky when it comes to carriers, who are then pressured to offer up something new and extraordinary to attract investment. Especially after so many investors have taken economic hits to their bulk and container investments.
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