The chief financial officer of Russian tanker owner Sovcomflot declined comment today on fresh reports that his company’s long-awaited initial public offering has been “postponed indefinitely.”
“It’s really in the hands of our shareholder,” said Nikolay Kolesnikov in a brief sideline interview with TradeWinds at the annual Marine Money conference, referring to the Russian state.
“What I can say is that we’ve been prepared for it for quite awhile, for a couple of years.”
Reports of delays
But he would not make specific comment on a report from the Tass news agency citing four sources who suggested the sale of a 25% stake in the tanker and LNG carrier player may be delayed yet again because of potential new sanctions against Russia by the US.
Kolesnikov did address sanctions generally during an interview session with Deutsche Bank transport banker Craig Fuehrer.
“Sanctions are nothing new to shipping and nothing new to Sovcomflot — we’ve been around a long time,” he told Fuehrer, while noting that there are no sanctions against Sovcomflot itself and maintaining the owner has seen no reduction in its business volume.
Fuehrer tried to press Kolesnikov on whether he would place a “buy” or “sell” on US President Donald Trump, but the finance man instead charmed his audience with dry wit.
“Let me make a disclaimer first — I have to publicly state that I have never met President Trump,” he said. “Nor have I had any dealing with him for the simple reason that I could never afford his properties.
“You asked me the question in a very American way — white and black — where we see all types of colors, and even between white and black there are 50 shades of grey.
'Political risk'
“We are ready to give the guy the benefit of the doubt. But it’s not for me to say, because the Russians didn’t elect Trump,” he added, drawing laughter from the audience.
In a more serious note, Kolesnikov would not specify what world stock exchange Sovcomflot might list on, but he did note a US listing involves “political risk.”
But under no circumstances would be initial listing be anywhere but Russian, he stressed.
“Russia first is a compulsory choice,” he said.
