Capital Markets Cost of Money Down

Owners Exploring Options
Griffin in New York

Pent up demand combined with the recent trend in interest rates – anticipated by many to trickle down to high yield markets by the third quarter – should result in many shipping deals coming to the debt market before the year is out.

Several initial public offerings (IPOs), including pending filings like Hvide Maritime Inc.’s, are also expected to come to the front.

Hvide filed its IPO issue April 1994; but subsequently, the market fell, and the company, on advice of investment banker C.S. First Boston, has been waiting for improvement. “We expect to go ahead with the IPO at the end of the third quarter or the beginning of the fourth quarter,” a Hvide manager told Marine Money.

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