Connect with us

Hi, what are you looking for?

Jewish Business News


Idan Ofer Seeks $200 Million Private Placement For Tanker Financing Ahead of Possible IPO Later

TradeWinds: Idan Ofer plans to raise $200 million ahead of an IPO on the Oslo Stock Exchange.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

Idan Ofer

TradeWinds reports that Idan Ofer plans to raise $200 million in a private placement by one of his private shipping companies,  Quantum Crude Tankers Ltd. ahead of an IPO on the Oslo Stock Exchange. The offering parallels Ofer’s planned offering of Israel Corporation (TASE: ILCO) subsidiary Israel Chemicals Ltd. (TASE: ICL) on Wall Street.

After the placement and listing on the Oslo over the counter market, Ofer plans a full IPO of Quantum Crude Tankers on a major stock exchange within one year. After the offering, the family’s Quantum Pacific Group will keep a majority stake in the company. Although “TradeWinds” does not mention a company value for the offering, it will presumably be a few billion dollars.

TradeWinds” reports that RS Platou, DNB, Pareto, ABN Amro and ING are the underwriters. It quotes sources as saying that Quantum Crude Tankers will use proceeds from the offering to buy a suezmax ship (which can pass through the Suez Canal when fully loaded) and a pair of new aframaxes (oil tankers smaller than 120, 000 metric tons).

Quantum Crude Tankers says that it has a fleet of 11 tankers: seven suezmaxes, two aframaxes and two very large crude carriers (VLCCs). The company says it is a “Pure-play crude shipping platform with a solid operating track record.” It is incorporated in the Marshall Islands.

Quantum Crude Tankers CEO Steve Kunzer, a 20-year industry veteran, previously held positions at the Ofer family’s private shipping companies Zodiac Maritime Agencies Ltd. and Tanker Pacific Ltd.

“Longer-term specific targets for Quantum Crude Tankers include building a fleet of 20 vessels within two to five years, ” says “TradeWinds“. “That effort got off to a solid start this week with the purchase of the 164, 000-dwt Knock Clune (built 2010) from Norwegian shipowner Fred Olsen”. It adds that the ship cost $48.5 million, $4 million more than a couple of years ago.

TradeWinds” says, “Shipowners raised $2.2 billion from IPOs and follow-on issues in the first quarter of this year, Clarksons data shows. Of that, $1.1 billion was raised by tanker owners”.

Gibraltar-registered Quantum Pacific also owns 69.1% Pacific Drilling SA (NYSE: PACD; NOTC: PDSA), a building of deepwater drillships.

Published by Globes [online], Israel business news –



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.

Copyright © 2021 Jewish Business News