Page 44: of Maritime Reporter Magazine (May 2023)

NOR-SHIPPING 2023 “Historically, the relationship between Oslo Børs and shipping goes back to its very roots. Many of the first companies listed and traded on the exchange were local family-controlled shipowners."

Øivind Amundsen,

CEO, Oslo Børs stock exchange group’s Nordic ambitions. is that both retail and institutions see shipping as a mainstay “The investor base in Oslo has a deep understanding and tra- investment, rather than a niche,” Amundsen explained. “This dition for investing in the whole extent of the shipping indus- provides availability of capital and liquidity throughout cycles try,” Amundsen explained in a recent interview. “Historically, and, in return, the companies are expected to be transparent the relationship between Oslo Børs and shipping goes back to and have a shareholder focus.” its very roots. Many of the ? rst companies listed and traded on The strength and depth of the ‘ecosystem’ is another key the exchange were local family-controlled shipowners. element in Oslo’s success. It is made up of a network of ? - “This has contributed to develop the strong businesses and nancing institutions such as the large Nordic banks, DNB shipping/maritime clusters that we have in Norway today. and Nordea, Amundsen said, but also an unparalleled group

Following this, an extremely knowledgeable ecosystem has of generalist and niche investment banks with a broad cover- developed. This is why Oslo Børs has succeeded in attracting age of all shipping subsectors, and spanning both equity and international companies within shipping, such as MPC Con- debt markets. tainer Ships (see below). “When it comes to shipping, you really do not see the same

However, investors have a keen appetite not only for the range or interest in New York or Singapore,” he declared. large, well-established corporates such as BW Group, Kongs- As a prominent player in the offshore wind sector, Nor- berg and Yara and companies owned by John Frederiksen, but way’s capital markets could prove attractive to US ? rms seek- also for smaller more niche ventures. TECO2030, for exam- ing equity and/or debt. Oslo Børs already has a strong track ple, is developing hydrogen fuel cells and has successfully record in the sector, with early pioneers including Bonheur raised capital in Oslo via a series of private placements. and, more recently, Edda Wind.

Other examples include offshore wind installation special- “Fixed-bottom and ? oating is certainly growing,” Amund- ists Cadeler, Seaway 7 (Subsea 7), Himalaya Shipping, a sen noted, “but is less prevalent in the capital markets as of niche dry bulk operator, Höegh Autoliners, Wilhelmsen, Fred now. Certainly Oslo Børs and the Norwegian capital market is

Olsen’s Bonheur, and so on. the obvious place to ? oat by way of private placement, IPO, “What really makes the investor community stand out … or debt ? nancing for any company related to offshore wind.” 44 Maritime Reporter & Engineering News • May 2023

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