FILE PHOTO: Soccer Football - Europa League - Round of 32 First Leg - Olympiacos v Dynamo Kiev - Karaiskakis Stadium, Piraeus, Greece - February 14, 2019 Olympiacos owner Evangelos Marinakis before the match REUTERS/Alkis Konstantinidis/File Photo
Oslo’s largest shipping listing in 20 years falls 12% on debut as Hormuz disruption rattles tanker sentiment.
(Bloomberg) — Crude tanker-owner Capital Tankers Corp.’s shares fell in their Oslo debut on Tuesday, as the closure of the Strait of Hormuz has disrupted global oil transit and markets.
The firm, backed by Greek billionaire Evangelos Marinakis’s Capital Maritime & Trading Corp., raised about 4.2 billion Norwegian kroner ($440 million) in the share sale to fund new ships. The stock fell as much as 12% to 118 kroner per share in its debut on Oslo’s growth exchange. The company sold 31.05 million shares at 134 kroner apiece in its initial public offering, with an additional 4.65 million available to be sold as part of a customary overallotment option.
The cost of shipping oil has soared since the US and Israel started military action against Iran, leading to a shut down of the Strait of Hormuz, a key waterway for oil. Capital Tankers owns nine sailing vessels and has 21 newbuilds scheduled for delivery between 2026 and 2028, as it focuses on shipping oil around the world, according to previous statements. The firm also has options for 13 more vessels from CMTC at a fixed price until the end of the year.
By listing in Oslo, Capital Tankers will get access to the exchange’s maritime-savvy investors familiar with freight markets and vessel valuations. Large shipping companies like Frontline Plc, Hafnia Ltd. and Wallenius Wilhelmsen ASA are listed in Oslo, with some firms’ shares also trading in the US. Capital Tankers is considering adding a dual listing in the US and upgrading its Oslo line to the main exchange, the company has said.
Marinakis, the billionare founder of CMTC, owns a range of shipping, media and football companies, including UK-based Nottingham Forest Football Club. He also has a majority stake in Greek football team Olympiacos FC.
Fearnley Securities AS and Pareto Securities AS are arranging the offering. Capital Tankers trades under the ticker “CAPT.”
© 2026 Bloomberg L.P.
This article contains reporting from Bloomberg, published under license.
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