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Shipping firm TMI announces $250m London float
(Getty Images)
A shipping firm planning to specialise in smaller cargo vessels has this morning announced plans for a $250m (£180m) London listing.
Taylor Maritime Investment (TMI) said it would use the proceeds from the float to buy a fleet of two dozen ships in the “handysize” and “supramax” classes.
These types of vessel, which can carry about 40,000 tonnes, are far smaller than the colossuses that currently dominate cargo trade, but can access more ports.
By contrast, the Ever Given, the cargo ship that got stuck in the Suez Canal last month, can bear four times as much tonnage.