GoodBulk has officially abandoned its effort to become publicly listed in New York but is still open to trying again.
GoodBulk filed for the IPO on the eve of the Posidonia 2018 shipping conference, with backing from seven banks.
The company tried to sell 8.5m shares for between $15.50 and $17.50 on the Nasdaq exchange for $140m but backed away a month later after selling no shares in the offering.
Since then, GoodBulk has been trading on the Oslo Bors.
The John Michael Radziwill-led bulker owner filed a US Securities and Exchange Commission document on New Year's Eve asking to retract a June 2018 initial public offering, as a matter of housekeeping essentially.
"GoodBulk withdrew its registration statement with the SEC as a result of the financials becoming stale as per SEC rules, so we would have had the same amount of work and cost whether or not we were registered," chief executive Radziwill told TradeWinds on Thursday.
However, this does not mean GoodBulk will not appear on a US exchange someday.
"The company will continue to monitor the US equity capital markets in general, especially appetite for dry bulk shipping companies," he said.
"We are prepared to refile if and when an opportunity arises to complete a transaction that would deliver value to all stakeholders.
"Right now we see more value in staying in our current form but there is a price for everything and we are in the business of maximizing shareholder value."
GoodBulk, which owns 26 capesizes and a panamax, gained 6.3% on Thursday to NOK 135 ($15.35) on the Oslo Bors.
