Ted Jadick, president of DNB Markets, which worked on the Euronav deal, says all the stars need to be aligned for a shipping company to list.
Jadick told Marine Money in London: "We have just seen the Euronav transaction completed, which was a successful IPO in the US market. I definitely would not conclude from that that the shipping IPO market in the US is open."
He told an audience at the Dorchester hotel in London that investors were clearly comfortable with the crude oil story right now due to the high rates, low oil price and current share valuations.
"Whether investor appetite currently for oil tankers is transferable to other sectors is dependant entirely on freight rates and peer valuations. Personally, I'm not that optimistic for shipping IPOs in other sectors of the industry, certainly in the first six months [of 2015]," Jadick said,
Last year saw only one traditional shipping IPO in the the US: Dorian LPG. Three fresh MLPs also went to market.
