In a blow to all crude tanker IPO hopefuls, the owner says unfavourable market conditions led it to suspend the shares sale.
“The company will continue to evaluate the most appropriate timing for the offerings as market conditions develop,” Euronav said.
Evangelos Marinakis’s Crude Carriers Corp was the last crude tanker owner to successfully list in the US in March 2010. It has since been absorbed into sister company Capital Product Partners.
