Principal Maritime Tankers Files for IPO

April 9 (Reuters) - Principal Maritime Tankers Corp, which is backed by Apollo Global Management LLC, filed with U.S. regulators to raise up to $100 million in an initial public offering of common stock. UBS Investment Bank was underwriting the IPO, the company told the U.S Securities and Exchange Commission in a preliminary prospectus on Wednesday. … [Read more...]

Principal Maritime Launches Stainless Steel Chemical Tanker Arm

Connecticut-based Principal Maritime Management LLC has announced plans to develop a stainless steel chemical tanker fleet through a new entity called Princimar Chemical Carriers. The new arm has already purchased three second-hand stainless steel chemical tankers from existing owners, and the company has already committed full financing for an initial fleet of 12 to 15 … [Read more...]