That was the word from a source familiar with the deal, who acknowledged that the virtual closure of the New York market for initial public offerings in dry bulk had a bearing on private sponsor Oaktree's decision to choose the merger path.
As TradeWinds has reported, OceanBulk has been considering its own IPO in New York since earlier this year. But it was not helped by a slump in dry-bulk rates that has seen asset valuations fall after a period of firming.
While
