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Titan Mercury sold
Titan Petrochemicals has offloaded another of its single-hulled VLCCs to a Thai shipowner.
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Navios offers
Greek bulker owner Navios Maritime Partners is offering stock worth $36m to fund fleet expansion.
The New York-listed capesize and panamax specialist said it will sell 2.8m common units, without revealing further details.
The stock closed at $13.04 per unit on Thursday.
It will use the cash for fleet expansion and general purposes, it said.
Underwriters are expected to be granted a 30-day option to purchase an additional 420,000 common units to cover over-allotments, if any.
Book-running managers for the offering are Citi and JP Morgan.
The Angeliki Frangou-led shipowner said profits fell over 70% from a year ago to $23.7m in the second quarter.
Navios controls a fleet of 59 ships of 6.3m dwt, of which 32 are owned and 27 are chartered-in under long-term charters.
It has a newbuilding programme of 21 ships expected to be delivered at various dates through to 2013.
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