The coronation came from Pareto Securities after the Norwegian magnate sold off five Frontline 2012 capesize bulkers to Knightsbridge, amid widespread belief the rest of its capesize book will follow.

Eirik Haavaldsen and Jonas Advocaat Kraft have today initiated coverage of Knightsbridge on the back of the deal.

In a research note entitled “The Knight that will be cape-King”, they placed a buy rating on the one-time VLCC owner which has long been tipped to play a role in the spin-off of the vast Frontline 2012 capesize fleet.

“It