President-elect Donald Trump is expected to select billionaire shipowner Wilbur Ross Jr as secretary of the Commerce Department, the Wall Street Journal reported today, citing two people familiar with the deliberations. The commerce secretary, a cabinet-level position that requires Senate confirmation, typically serves as the government's chief business … [Read more...]
Billionaire Ross Says Diamond S Shipping IPO Pulled as Price Too Low
March 12 (Bloomberg) -- Billionaire Wilbur Ross said an initial public offering for Diamond S Shipping Group Inc., the tanker company in which his firm is the largest shareholder, won’t proceed because the suggested price was too low. The final proposal by the underwriters was not acceptable, the founder of WL Ross & Co. said in an e-mail yesterday. Diamond S won’t issue … [Read more...]
The Coming IPO Of Diamond S Shipping Group
A new year, a new shipping IPO by private equity investor Wilbur Ross. Following on the steps of the very successful IPO of Navigator Holdings Ltd. (NVGS) last November, Diamond S Shipping Group, Inc. (DSG) filed yesterday a registration statement with the SEC for an initial public offering. Diamond S Shipping Group, Inc. currently owns a fleet of 33 medium range (MR) … [Read more...]
Wilbur Ross-Backed Diamond S Shipping Files For IPO
Feb 4 (Reuters) - Diamond S Shipping Group Inc, which is backed by billionaire-investor Wilbur Ross, filed with U.S. regulators to raise up to $100 million in an initial public offering of its common stock. The Greenwich, Connecticut-based company owns and operates medium-ranged tankers to transport refined petroleum and other products. Jefferies and BofA Merrill Lynch … [Read more...]
Navigator Holdings Ltd. – A Case Study on Private Equity Groups
The foray of private equity groups in the shipping industry has been a focal point of discussion in industry forums, ever since the high-profile investments by celebrated investor Wilbur Ross in privately held Diamond S Shipping Group (a company specializing in suezmax crude oil carriers & medium range petroleum product tankers) & Navigator Holdings Ltd. (a company … [Read more...]