Ofer pulls Quantum float

Idan Ofer has pulled plans to take a crude tanker company public on Oslo’s over the counter (OTC) market given the intense competition among shipowners looking to tap the capital markets today.

10 April 2014 15:26 GMT Updated 10 April 2014 16:07 GMT

By Trond Lillestolen in Oslo and Andy Pierce in London

A private placement worth $200m for Quantum Crude Tankers has been abandoned on the same day as Stalwart Tankers gave up on its listing in New York.

TradeWinds understands Quantum’s expansion plans will not be affected by the decision to remain a private company in the short term.

Ofer retains the appetite for a full IPO for Quantum Crude in either Oslo or New York when the fight for investor capital is less intense, sources suggest.

While