In an interview with TradeWinds Pankaj Khanna noted the bulker owner, which already trades over-the-counter in Oslo, is willing to wait for the dry-bulk landscape to improve.

“We are very well placed to weather the market downturn, we have a very strong balance sheet and don’t need the capital so we aren’t in a hurry,” he explained.

“The IPO window is open, the capital markets are very strong, but the freight markets are not.