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Okeanis Eco Tankers to start trading on Oslo Bors tomorrow

Photo of Sam Chambers Sam ChambersJuly 3, 2018
36 Less than a minute

Okeanis Eco Tankers, owned by the Alafouzos family of Greece, has just concluded a $100m IPO in Oslo and is expected to start trading tomorrow.

The company has six modern vessels on the water – three aframaxes and three suezmaxes and nine to be delivered, made up of eight VLCCs and a suezmax.

“The timing is exquisite in our view, with 77% of the fleet to be delivered from now until YE’19, just as the cyclical expansion is expected to unfold,” Gersemi Research noted, initiating coverage on the stock with a buy rating on what it described as “the cheapest crude tanker recovery bet”.

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Photo of Sam Chambers Sam ChambersJuly 3, 2018
36 Less than a minute
Photo of Sam Chambers

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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