Despite the buzz within the shipping industry surrounding this month’s announcement that Monaco-headquartered GoodBulk had filed to list in New York, the company has ceased marketing of the IPO citing adverse market conditions.
GoodBulk was looking to list on the Nasdaq Global Select Market, but now says it will “evaluate the timing for the proposed offering as market conditions develop” leaving the door open for the listing in the future.
Formed in October 2016, GoodBulk has built up a fleet of 25 bulkers including 22 capesizes.
John Michael Radziwill, chairman and CEO of GoodBulk, recently told Splash in an interview that GoodBulk had no capital commitments that require a listing.
“It’s a nice to have, not a must have,” Radziwill said.
The listing would have been the first shipping IPO on Wall Street for more than three years.