Analysts Jonas Advocaat Kraft and Eirik Haavaldsen elevated the new dry cargo giant from hold to buy on the back of the all shares deal.

The duo placed a $17.5 per share target price on the owner, which has seen its stock spike after the merger was announced this week.

In a research report the analysts suggest the company will report adjusted profit of $36m this year, with its bottom line growing to $127m in 2015 and $274m in 2016.