US-listed owners have embarked on a 'fire sale' as their cash cushions shrink, rapidly offloading vessels to raise funds and pare capital commitments. According to a new data analysis by IHSFairplay, 10 US-listed shipping companies sold 29 vessels between 25 November 2015 and 5 January for a total of USD943 million. In contrast, only one US-listed owner, NYSE-listed Ship Finance International, added tonnage during that same six-week period, ordering two 114,000 dwt product tanker newbuildings with lone-term charters attached.
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