Siem Shipping to Delist from Oslo Stock Exchange

Siem Shipping After it passed a delisting resolution at the beginning of May 2016, the Oslo-listed shipping firm Siem Shipping today submitted an application to the Oslo Stock Exchange to delist the company from Oslo Børs. Siem Shipping said that increased competition from the container companies has impacted the traditional specialised reefer markets and that it is the last remaining publicly-listed reefer company. In an annual general meeting held on May 6, the company said that at present and for the foreseeable future, there are little or no benefits to be obtained and there is little or no trading activity to justify the cost to maintain a public listing. During 2015, less than 20,000 shares in the company have been traded, equivalent to about 75 shares per day on some 260 trading days during the year. Siem Shipping said that this trend has continued in 2016 and that it no longer considers it to be in its, or its shareholders, best interest to continue as a listed entity.