Despite the increasingly robust appetite for tanker stocks forecasters like Michael Webber of Wells Fargo Securities are anticipating a lukewarm reception in Times Square.
“A poor (to put it mildly) corporate governance reputation could hamper interest from institutional investors, despite firming tanker sentiment,” he wrote in a client briefing.
Webber is concerned that proceeds from the George Economou-led tanker operator’s initial public offering (IPO) will be used to acquire assets from related parties “at a premium”.
He
