Shipping Roundup: New Chinese Capesize Player, Marinakis Tanker IPO, and More

## New Chinese Entrant into the Capesize Sector According to Splash247, a new Chinese company called National Fortune Shipping Group appears to be making a bold move into the capesize bulk carrier market. The company, incorporated in China on April 2, 2023, has already named its first two vessels 'NF Fortune' and 'NF Future' - signaling clear growth ambitions. Shipbroking sources indicate that National Fortune Shipping Group is quickly assembling a capesize platform, marking the entry of a new player into this segment of the shipping industry. The capesize sector, which transports large dry bulk commodities like iron ore and coal, has seen significant volatility in recent years, making it an interesting space for new competitors to emerge. ## Marinakis Tanker Spin-Off Boosts Oslo IPO In other news, Capital Tankers Corp, a tanker company backed by the Marinakis family's Capital Maritime & Trading Corp, has increased the size of its Oslo private placement to $500 million due to strong investor demand. The company is planning to list on Euronext Growth Oslo next month. According to Splash247, the share sale was 'multiple times oversubscribed', highlighting the continued investor appetite for exposure to the tanker market. The Marinakis family is a prominent player in the global shipping industry, with interests spanning bulk carriers, tankers, and containerships. ## Other Maritime Industry Updates Elsewhere in the industry, Splash247 reports that the 'Splash Wrap' column has covered the return of tariffs to the top of the shipping news agenda, creating confusion as the transpacific contracting season gets underway. Additionally, New York-based tanker broker McQuilling has acquired Madrid-based Medco Shipbrokers, the latest in a series of consolidation moves in the shipbroking sector. Finally, Singapore-based OceanSTAR Elite has secured a long-term contract with Petronas Carigali for the provision of a lease, operation, and maintenance of an FPSO unit. This deal highlights the continued activity in the offshore energy sector.