Bermuda-based Golden Ocean may consider raising money in Singapore following its secondary listing in the city-state, its CEO Herman Billung said, as reported in Business Times.

"Initially, we are just doing a transfer of shares but we hope that if and when we raise new equity, we will focus to do it in Singapore," Mr. Billung told the publication.

Mr. Billung declined to comment on when Golden Ocean might tap Singapore for a share offer or say how much it was seeking to raise, stating that acquisitions and fund raising in the shipping industry tended to be opportunistic by nature.

Golden Ocean's management met potential investors in Hong Kong earlier this week and they will spend the next two days promoting the firm to financial institutions in Singapore, he added. Golden Ocean is the first Norwegian-listed firm to list in Singapore under a collaboration deal between Singapore Exchange and Oslo Bors.

The firm, a spin-off from oil tanker giant Frontline Ltd., currently owns or controls 12 ships and has another 23 under construction.

Joachim Skorge, head of corporate finance in Asia for DnB NOR, which handled Golden Ocean's secondary listing, said several Norwegian firms in the shipping and energy sectors were keen to float shares in Singapore.

Most of these firms already have operations in Singapore, a large Asian hub for shipping and oil and gas-related activities.

Singapore-listed China Fishery Group, a Chinese fishing company, plans to list in Oslo sometime next month as part of the agreement between the two bourses.