Page 24 - Private Equity
PE flow drops by 12% in fourth quarter: PwC report
The report said that 2015 is the best year for PE inflow.
 "PE flow drops by 12% in fourth quarter: PwC report")
No deals in shipping, port for two years
Private equity (PE) firms have stayed away from investing in shipping, ports and logistics for two years in a row. This shows they don't believe the fortunes will change much from the current grim situation."PEs have stopped coming into the sector and there is no easy money for the shipping business," G Shivakumar, chief financial officer at Great Eastern Shipping, said in the third quarter earnings conference call. The company, like its peers, has given a negative outlook for the dry bulk trade division and did not provide valuations for the offshore business.The recent move by shipping and logistics company, Mercator, also speaks volumes about the grim situation. Mercator not only decided to exit the weak dry bulk business held via its Singapore subsidiary but also sold it to three PE companies for a token amount of three Singaporean dollars. The dry bulk trade across globe has virtually come to a standstill. This is evident from the level of Baltic Dry Index (BDI), the benchmark for
 "No deals in shipping, port for two years")