Gas carrier owner and operator Exmar delayed the launch of its initial public offering for common units in its U.S. based master limited partnership Exmar Energy Partners Friday, citing ” unfavorable current capital market conditions.”
The company said it will continue to evaluate “the most appropriate timing for the initial public offering as market conditions develop.”
A new launch date has not been selected.
The Belgium-based company announced its intention to offer units in its master limited partnership last year.
After the offer was complete, Exmar Energy would have owned a 50 percent equity interest in its joint ventures that own and operate four LNG regasificiation vessels and one LNG carrier.
The number of units to be offered and the price range of the units was not disclosed.
The company owns and operates the Excelsior, the Excelerate, the Explorer and the Express LNGRV along with the Excalibur LNG carrier.
All five vessels are currently on time charter to Texas-based Excelerate Energy.