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.

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