carriers.
Nautical Bulk Holdings Ltd., a newly formed Bermuda-based company, announced Wednesday it has raised in excess of $100 million of equity capital to fund the construction of the eight ships by China’s Jiangsu Hantong Ship Heavy Industry shipyard.
W.L. Ross & Co., Fearnley Advisors AS, Solus Alternative Asset Management LP and CONTI Group are providing the equity capital to launch the company.
Nautical also has multiple fixed options for additional newbuildings. The eight ships will be delivered in 2015, with the first delivery date scheduled for January.
Private equity companies have shown increased interest in the shipping industry, and Ross, who has invested in both tanker and liquefied petroleum gas (LPG) carriers, has predicted their investment in shipping could double by 2014 unless the public equity markets “open up.” – Chris Dupin
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
F3 Awards Dinner
The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now