Norway based marine transportation service company I.M. Skaugen SE (IMSK) has terminated the market maker agreement with Swedish financial group Skandinaviska Enskilda Banken AB (SEB).
Skaugen had the agreement in place since May 2011 with the aim of providing more and better liquidity for the company’s smaller shareholders.
” The ambition has been to offer some assistance to enable these to sell or buy smaller lots of shares, and by this increase the turnover and tighten the spreads of the IMSK shares,” the company said.
However, the duo have now agreed to terminate the deal and are in a process of evaluating if such liquidity arrangements have had and will have the desired effect to warrant the additional cost for the company.
According to Skaugen, SEB will until 29th of February perform its obligations under the agreements in place.
The Skaugen Group of companies currently operates a fleet of 15 advanced gas carriers, including LNG and LPG carriers.