Twenty years after a wave of IPOs in the US revolutionised the shipping industry, owners face a stark question: was it all worth it?
Is there a rationale for being a listed shipowner when investors are not willing to pay even the steel value of ships to own the stocks?
Rushing back out?
How much longer can a landscape in which nearly all public shipowners trade below net asset value be justified before a reversal of the 2005 “gold rush” becomes the new trend?
These were questions that left a frustrated group of owners and public-market experts thrashing about for answers on panels at...
