Houston based Genesis is offering 4m common units in a move that could raise $180m, with an additional ‘greenshoe’ option to underwriters to purchase a further 600,000 units potentially raising the total to $203m.
Genesis splashed out $157m to buy the 49,000-dwt Jones Act tanker American Phoenix (built 2012) from MidOcean Tanker in October to add to a substantial fleet of inland waterway and coastal tugs of up to 6,140hp and tank barges of up to 20,000-dwt.
The
