V Ships Denies Reports on Sale

V Ships London-based ship management company V Ships has refuted media reports on the alleged auctioning off of its marine business later this year. The reports emerged in the UK media claiming that the Canadian owner of V Ships, Omers Private Equity, had indicated a preference for a trade sale over an IPO, citing an estimated price tag for the business amounting to GBP 500m (over USD 724 million). Omers Private Equity was bough for £347m in July 2011. A spokesperson for V Group, the companys parent, told World Maritime News that the groups shareholders did not initiate a sale process. We are and continue to be focused on delivering an excellent and cost effective service to our clients to help them in these difficult market conditions, the statement reads. The companys managed fleet comprises of 1,100 ships ranging from crude, products, chemical and LPG/LNG tankers, bulk carriers to VLOCs, containerships as well as many specialized vessel types. World Maritime News Staff