Diamond S Shipping’s two largest shareholders are raking in a further $9.6m from a 21 November equity offering in which they began to unload their positions.

WL Ross and First Reserve are benefiting from a decision by the deal’s underwriters, Pareto Securities, to fully exercise their over-allotment option on the original $55.3m deal.

The private equity backers are profiting from how Diamond S has traded since the equity sale.