According shipping newspaper TradeWinds, challenger Webber what he sees as the prevailing notion, namely that the merged company to John Fredriksen will automatically go straight to the top as the dominant shipping company.
In a note to its clients, rendered by Tradewinds, highlighting he Euronav as his favorite.
“Although we would not underestimated John Fredriksen, we believe Euronav continues to sit foremost in class,” said the note.
At the beginning of 2014 bought Euronav VLCC entire fleet of Maersk Tankers on 15 vessels and, according to Webber a market share of 3 percent. If the merger between Frontline and Frontline 2012 approved, the combined company will be the second largest with a market share of 2.5 percent.
Wells Fargo analyst believes one of the main reasons for the merger is that it gives the newer fleet Frontline 2012 an easier and cheaper access to the US capital.
A listing of Frontline 2012 in the United States was in fact the original plan, but the recently announced merger with Frontline makes Fredriksen drop it. Fredriksen system will save somewhere between 15 and 20 million dollars in taxes that it had paid if Frontline 2012 should have had an independent listing in New York.
Gener8 Maritime had out had $ 19.4 million in fees of the total $ 210 million that it raised at its IPO two weeks ago.
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