Its market value raced up by more than a tenth after a long anticipated merger with Frontline 2012’s remaining 25-strong capesize fleet crated both the largest US listed cape owner and its least appropriately named.

Analysts were united in their applause of the move, which was confirmed today with Knightsbridge issuing 62m shares to Frontline 2012 as payment.

An initial 31m of those shares are being printed in September this year, and the rest in March, 2015.

Bjorn