This week’s Streetwise takes a look at operating performance for 23 publicly listed companies, and why it might or might not correlate with valuations assigned by investors
Finance
Shell pumps £50m into chartering arm Stasco as profit swells
Energy major’s shipping service operation made plenty of money last year, accounts reveal
Harry Vafias’ Imperial Petroleum back in favour with Nasdaq after share price boosted
Harry Vafias-led tanker owner carried out reverse stock split to regain compliance with listing rules
Weak freight rates push Grindrod Shipping to first quarter loss
Singapore-based shipowner rides out the weaker first quarter of the year ahead of expected market strengthening
Eagle Bulk wins enlarged $485m loans refinancing with bank group
Amended facility extends bulker owner’s maturities by two years, could be used for recent acquisitions and dry powder for further moves
Adnoc plans to raise up to $607m in shipping arm’s IPO
Middle East’s second largest public offering of 2023 values Adnoc Logistics & Services at around $4.05bn in
https://www.tradewindsnews.com/gas/adnoc-plans-to-raise-up-to-607m-in-shipping-arm-s-ipo/2-1-1452686
D’Amico wave of purchase options spawns fifth MR tanker buy
Italian shipowner continues hoovering up bargain tonnage through clauses in bareboat charters
Cummins seeking investors for IPO in stand-alone filtration unit
Cummins Inc. is taking its filtration business on the road to win investors for a $273 million initial public offering. But when all is said and done, its parent will remain the biggest shareholder by far of Atmus Filtration Technologies.
Atmus is offering 14.1 million shares of common stock. Underwriters get a 30-day option to buy 2.1 million additional shares at the IPO price, expected to be $18 to $21 per share.
The Atmus name, announced in February, is derived from the word atmosphere and is...
https://www.freightwaves.com/news/cummins-seeking-investors-for-ipo-in-stand-alone-filtration-unit
Total comeback: Danaos Corp will soon be net debt-free
Barely five years after drowning in debt, US-listed container ship owner is about to get rid of it
DNB’s Jan Ole Huseby says there is a financing gap between ambition and reality
Norwegian banker says lenders must help bridge the divide on the road to decarbonisation