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Wednesday, March 10, 2010 Top Story Shipping IPOs debut on NYSE About half a decade after the first maritime shipping concerns sold shares to the public on U.S. stock exchanges, another fleet of IPOs is preparing to set sail into the capital markets of New York. Kicking it off on Wednesday is the expected pricing of two new issues -- an owner of dry-bulk vessels called Baltic Trading and an oil-tanker outfit called, straight-forwardly enough, Crude Carriers. Both names have established provenances. Baltic, which will trade under the symbol BALT, was formed by Peter Georgiopoulos, the impresario behind the tanker operator General Maritime (the first shipping company to go public on the New York Stock Exchange, back in 2001), as well as the dry-bulk ship owner Genco Shipping & Trading and the ship-fuel transporter Aegean Marine. Crude Carriers, which will trade under the ticker CRU, was formed by Capital Maritime & Trading, a privately held Greek company that owns and manages tankers as well as dry-bulk carriers. Capital Maritime is the baby of Evangelos Marinkais, who also took public Capital Product Partners in 2007 on Nasdaq. Capital Product owns 19 of the kind of tankers that carry wet cargoes other than petroleum, known in the industry as "product tankers." -The Street For the full story: www.thestreet.com/story More Newswire stories Port of Seattle in the black despite 8.2 percent revenue drop in `09 Freight Index rose 0.4 percent in January Eurotunnel owner plans high-speed freight service Dutch Customs makes big cocaine haul in fake fruit cargo Today's Cargo News Archives	Click to browse past stories on these topics: Logistics Ports & Infrastructure Economic Outlook Environmental Impact Technology
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Shipping IPOs debut on NYSE