Siem Shipping is pushing ahead with its delisting, first mooted in May. Today it applied to the Oslo Stock Exchange to be delisted from Oslo Børs.
“Increased competition from the container companies has impacted the traditional specialised reefer markets and the company is the last remaining publicly-listed reefer company,” Siem Shipping said in a release.
During 2015, less than 20,000 shares in the company have been traded, equivalent to about 75 shares per day on approximately 260 trading days during the year.
“This trend has continued in 2016 and the company no longer considers it to be in its, or its shareholders’, best interest to continue as a listed entity,” Siem Shipping concluded.