Poseidon to Go Public

June 18, 2015

 Poseidon Containers Holdings, a private equity backed containership operator with an initial fleet of 18 vessels, has filed for an initial public offering. 

 
It plans to raise $100 million, which is likely only a placeholder as Poseidon has not specified the number of shares to be offered or the price range. 
 
Greece-based Poseidon said it plans to apply to list its shares on the New York Stock Exchange under the symbol PCON. 
 
Poseidon's initial fleet of 18 container ships includes five Handymax vessels, two Panamax vessels and 11 Post-Panamax vessels. 
 
The company said in the filing it has contracted to acquire four vessels from unrelated parties for a total purchase price of $219.2 million. 
 
"Further, we are currently in advanced discussions with unrelated third-parties to acquire additional high specification or new design, fuel-efficient container ships, with carrying capacities of 8,000 to 11,000 TEU (twenty-foot equivalent unit)," Poseidon said. 
 
Other PE-backed shipping companies that have recently filed to go public include Gener8 Maritime, and Overseas Shipholding Group  Gener8 and Overseas Shipholding are oil tanker operators.  
 

Logistics News

Georgia Ports, Konecranes Celebrate 30-Year Yard Crane Partnership

Georgia Ports, Konecranes Celebrate 30-Year Yard Crane Partnership

PPG Completes 100th Dry Docking Using Electrostatic Coating

PPG Completes 100th Dry Docking Using Electrostatic Coating

DP World, Asian Terminals Inc. Deploy First Fleet of Electric Internal Transfer Vehicles in the Philippines

DP World, Asian Terminals Inc. Deploy First Fleet of Electric Internal Transfer Vehicles in the Philippines

Alleged Breach of Supply Chain Protection for Sheep in Jordan

Alleged Breach of Supply Chain Protection for Sheep in Jordan

Subscribe for Maritime Logistics Professional E‑News

EasyJet's annual profit will be affected by French air strikes and higher fuel costs
Maguire: Gas consumption in Europe's largest gas trading hub reaches new lows
ABB's Q2 order intake surpasses expectations, resulting in the highest-ever number of orders.