Hot Time in the Old Town

It is hot all over. Oslo, London, New York, Piraeus, Hong Kong – name a capital for shipping and chances are the heat is on. It’s summer, but the same is true for many markets. Even the ravaged VLCC market is showing signs of the long-predicted revival. Shipping is also enjoying a warm reception in various capital markets.

Teekay Shipping, which is featured inside, successfully completed its IPO, raising $130 million. OMI, whose string of quarterly reported losses stretches way back, has seen its share price move up almost 30% in the last month. Lazard Freres is bringing a large private debt offering to the markets shortly.

This is only an excerpt of Hot Time in the Old Town

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