Molaris axes Product Shipping IPO after signing new MR2 orders
Product Shipping, a product tanker vehicle backed by Greece-based shipowner Stamatis Molaris, has formally withdrawn its old IPO filing from 2014, citing “adverse market conditions” but that does not signify a step back from the product tanker sector. The owner’s privately held company, Empire Navigation, has confirmed the recent inking of a contract for four new medium range two tankers from Hyundai Mipo in Korea, with deliveries next year
Formal withdrawal from public registration comes as affiliate Empire Navigation orders four new tankers from Hyundai Mipo
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