Axia expects more big deals in bulker S&P

Golden Ocean's swoop for Quintana and Eagle Bulk's nine-ship purchase could be just the beginning.

16 March 2017 19:17 GMT Updated 16 March 2017 21:45 GMT

Axia Capital Markets sees more en bloc ship purchases ahead in the dry-bulk sector after recent acquisitions by two New York-listed shipowners.

Clinton Webb, who covers shipping stocks for the New York arm of Greek investment bank, told clients today that Golden Ocean Group's all-stock takeover of Quintana Shipping's 14-ship fleet takes advantage of bulker value upside potential, particularly in the capesize sector.