Ismini Panagiotidi-controlled Pavimar Shipping has filed papers to spin off a bulker-owning company in a New York IPO.

The deal, if it goes through, would turn listing shipowning companies in the Big Apple into a family trade, as it is the third by a member of Greece’s Panayotides family.

Icon Energy plans to start out small with a single panamax bulker, the 77,300-dwt Alfa (built 2006), in a deal in which $5m to $7.5m