Cetus Maritime

Cetus Maritime (Ticker: CTUS NO) owns, operates and manages dry bulk ships carrying steel products, grains, agricultural products, concentrates and forest products. It transports cargo on owned and chartered-in vessels, primarily through spot and short-term charter arrangements. The group took its current form in January 2023 through the merger of Asia Maritime Pacific and HBC Hamburg Bulk Carriers.

Cetus Maritime expects to begin trading on the Euronext Growth market of Oslo Børs on November 18, 2026. Its pre-listing private placement has a fixed subscription price of USD 1.83 per share, payable at its Norwegian-krone equivalent. The proposed base issue comprises approximately 95.6 million newly issued shares, implying an offering size of $174.95 million. Estimated equity capitalization after the base placement and the planned Seacon transaction is $482.24 million, excluding the optional overallotment.

Before listing, Cetus plans to acquire 13 vessels from Seacon Shipping Group and Syngrace, which holds contracts for three newbuildings. Following the transaction and a planned vessel sale, it expects a fleet of 42 ships: 34 on the water and eight newbuildings due in 2027 and 2028. Proceeds will support vessel acquisitions, newbuilding payments, fleet deleveraging and working capital.

Underwriters include Clarksons Securities AS, DNB Carnegie and Nordea Bank Abp NUF.