In a prospectus filed with securities regulators IPO hopeful AmericanPetroleum Tankers (APT) said it is confident freight rates will firm in thecoming years due to the spike in the production of US crude but acknowledgedthat Avondale poses a threat to the stability of the space.
Under the “risk factors” section of the filing it warned investors about reportsthat the facility, which is based in Louisiana and controlled by HuntingtonIngalls Industries (HII), is in talks to build up to eight medium-range (MR) productstankers for a leading private equity firm.
“Currently,
