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Markets In Disarray
The equity markets can best be described as volatile, although that characterization may be kind, as they seem to be heading in one direction only. Two companies, Ridgebury Tankers and Navios Maritime Acquisition have braved the onslaught but we suspect would have preferred a better choice of timing. Unlike the preceding IPO offerings, Crude Carriers and Scorpio Tankers, that took place earlier this year, Ridgebury is not the master of its fate. Specifically, its vessels are on option from a third party seller, Teekay, as opposed to an affiliated party, which implies certain time limitations. Despite the switchover from the Gemini to Heidmar pool, they remain on the road for a second week. As a firm believer in no news is good news, we remain hopeful that Bob Burke and his team along with Jefferies will be successful.
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Tags: · Angeliki Frangou, Anthony Kandylidis, Basset Holdings, Berlian Laju Tankers, Bob Burke, Chris Wetherbee, Crude Carriers, Danatama Makmur, Deutsche Bank, DnB NOR, FBR Capital Markets, Gemini, Heidmar, Jefferies, Navios Maritime Acquisition, Navios Maritime Holdings, Oceanfreight, Ridgebury Tankers, Scorpio Tankers, Standard Chartered, Teekay, Tunggaladhi Baskara
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