Turkish iron and steel products maker Izmir Demir Celik (IDC) is likely taking advantage of uptick in bulker values to profit from shedding its low-profile shipping arm.

Market sources in Istanbul are saying the company is about to commit all three bulkers of group company IDC Denizcilik, in an en-bloc deal worth about $25m.

Managers at the Izmir-based company did not respond to a request for comment.