Marinakis’ Affiliated Capital Maritime Finance Corp. To List on Euronext Athens
Capital Maritime Finance Corp. (CMF) is moving forward with the first shipping IPO in Greece, through the exclusive listing of all its shares on Euronext Athens. At the same time, it represents the first substantive step towards establishing Athens as a strong global shipping hub. According to information, the company affiliated with Vangelis Marinakis is ...
Marinakis’ affiliated Capital Maritime Finance Corp. is set to list its shares on Euronext Athens, marking the first significant shipping IPO in Greece and a step towards establishing Athens as a major global shipping hub. The company, led by Vangelis Marinakis, aims to raise up to €200 million through the IPO, which will be used to finance its newbuilding program and cover working capital requirements.
CMF's strategy combines long-term growth with investment value by focusing on acquiring container vessels under long-term charter contracts. The company already has reliable charters with top-tier charterers, providing strong revenue visibility and predictability despite market cyclicality. CMF's fleet is characterized by high revenue visibility, with 100% of its available capacity fully chartered through 2034, totaling $3.9 billion in contracted remaining revenue and an average charter duration of 9.5 years.
The company operates a cutting-edge fleet of 36 container vessels, with 13 currently in operation and 23 under construction. Upon completion, the fleet will have a weighted average age of just 2 years, making it one of the youngest and most efficient in the world. CMF's fleet includes 26 vessels with dual-fuel LNG capabilities, which significantly reduce emissions and help the company comply with strict environmental regulations.
The company boasts a strong financial profile with a fully funded investment program of $1.9 billion through 2028, supported by $1.6 billion in bank financing and organic cash flows. CMF also offers an attractive dividend policy, with distributions targeting quarterly payments based on Adjusted Net Income, starting in Q1 2027.
The shipping industry faces challenges such as an aging global fleet, growing demand for newer vessels, and tightening environmental regulations. CMF's fleet addresses these issues by being one of the youngest in the market, possessing LNG dual-fuel capabilities, and operating in segments with high demand for navigational flexibility.
Written by urgent.news from Hellenic Shipping News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
