Stelmar Shipping To Sell Shares In U.S.

Greek shipping company Stelmar Shipping Ltd. has filed with the U.S. Securities and Exchange Commission to sell 7 million common shares at $12 to $14 per share. The Athens-based company, which owns and operates oil and products tankers, said it plans to use the proceeds of the offering to partly fund its purchase of 10 Handymax tankers from Osprey Maritime Ltd. The lead manager for the offering is Jefferies & Co, Stelmar said.