In a move that is already reshaping the balance of power in global shipping capital markets, Capital Tankers Corp., controlled by Mr. Evangelos Marinakis, has completed a landmark public offering on the Oslo Stock Exchange.
The scale of the offering stood out in both the shipping sector and the Norwegian market. Investor demand far exceeded initial expectations, with the offering heavily oversubscribed several times over. The transaction is already being described as one of the largest capital raises ever completed by a shipping company, and the largest on the Norwegian market to date.
Investor Demand Forces Upsizing
Strong interest from Norwegian and international institutional investors prompted the company’s board to revise the size of the offering upward shortly after launch.
The base deal was increased from $300 million to $435 million. Including additional shares issued through overallotment options, the total offering reached $500 million.
Following completion of the transaction, 26% of Capital Tankers’ share capital will be held by long-term institutional investors, while 74% remains under the control of Capital Maritime & Trading, Mr. Marinakis’ privately held shipping group. The deal values Capital Tankers at $1.9 billion, giving the newly listed company significant financial weight from day one.
Countdown to Market Debut—With Eyes on the US
Trading in the company’s shares is scheduled to begin on March 17, 2026, on Euronext Growth Oslo under the ticker symbol “CAPT.”
But Oslo is only the first step. Management has outlined plans for a rapid move to the Oslo Stock Exchange’s main market. A potential secondary listing in the United States remains on the table, should market conditions allow.
The capital raised will serve as fuel for:
- Financing an extensive fleet investment program
- Strengthening working capital
- Covering general corporate purposes and transaction costs
- A Pure Play on Crude Tankers, with a Green Edge
Capital Tankers Corp. was created as a spin-off from Capital Maritime & Trading, transforming it into a pure-play investment in crude oil tankers.
Its fleet consists of 30 modern vessels—including VLCCs (Very Large Crude Carriers), Suezmax and Aframax/LR2 tankers. Eight ships are already in operation, while 22 are under construction. With an average fleet age of just 0.2 years, it is set to become one of the youngest crude tanker fleets in the world. The company also holds options for 13 additional newbuild vessels.
A key competitive advantage lies in the fleet’s technological profile. A significant number of the vessels are LNG dual-fuel capable or LNG-ready, allowing them to operate on liquefied natural gas as well as conventional marine fuels.
This flexibility positions Capital Tankers at the forefront of shipping’s green transition, aligning it with stringent environmental regulations such as the EU Emissions Trading System (EU ETS) and FuelEU Maritime—two cornerstone EU policies aimed at cutting carbon emissions from the maritime sector.
With this move, the group controlled by Mr Evangelos Marinakis underscores its ability to attract institutional capital, drawing on the depth and maritime expertise of the Norwegian market as well as investor confidence in a growth model that seeks to combine industry experience with technological renewal.
