Dry bulk executives are split on the prospects for further industry consolidation in the wake of Golden Ocean’s $364m takeover of Quintana Shipping last week.

Private equity-backed companies appear more keen to roll up the industry, while traditional shipowners see little advantage in merging fleets.

Genco Shipping & Trading president John Wobensmith said intense fragmentation remains a hurdle to the long-term health of the industry and its ability to attract new capital.