Life on the Road

Following on the heels of a conference-filled week, public shipping company management eams such as those at StealthGas and TEN continued to develop their profiles and build their relationships with analysts and investors. Harry Vafias and Andrew Simmons of StealthGas opened the Nasdaq on Wednesday morning. Isabella Schidrich and her team at the Nasdaq celebrated StealthGas’ incredible growth story and presented Mr. Vafias with a special crystal for being the youngest CEO of a public shipping company in the world – and a successful company at that.

Written by: carisk | Categories: Freshly Minted, Market Commentary | March 27th, 2008 | Add a Comment

The Week in Review

The relatively quiet ship finance market over the past couple of months is beginning to show signs of life. The equity market this week picked up when K-Sea GP Holdings LP has filed for an IPO. Lehman Brothers and Citi are running the deal, which is set to raise up to $100 million. The company’s cash generating assets consist solely of partnership interests in US-listed K-Sea Transportation Partners, which currently operates a fleet of 73 tank barges, one tanker and 59 tugboats that serve a wide range of customers, including major oil companies, oil traders and refiners. We look forward to exploring this very interesting deal in more depth next week.