Danaos has reportedly hired investment banks to advise on a possible equity placement and listing in Norway for its dry bulk business.
More specifically, TradeWinds reports that the Greek shipowner is considering splitting the fleet of his company, Danaos Corporation, into two independent, specialized shipping firms.
Danaos is listed on the New York Stock Exchange and operates a total of approximately 120 container ships and dry bulk carriers.
According to a filing submitted to US securities regulators on Friday, the company is considering transferring its 15 bulk carriers to a new corporate entity with the aim of listing it on the Oslo Stock Exchange.
The containership fleet would remain with the existing company.
The plan entails offering a minority stake in the new company to investors in the Norwegian capital market. According to market sources, Danaos is expected to retain a strong majority stake in the new company that will control the bulk carrier fleet.