A clear renewables story is helping shipping shares fly off the shelves in a buoyant initial public offering arena in Oslo.

Car carrier owner Hoegh Autoliners and offshore wind vessel player Edda Wind look set to raise a little over $300m combined from their IPOs this month.

Both transactions were effectively more than sold out before the book-building even launched, with the companies announcing to the Oslo bourse that they were oversubscribed 15 minutes after official opening times.

Clarksons Platou Securities chief executive Erik Helberg told TradeWinds that shipping markets have been strong this year and continue to look very robust, supported by historically low orderbooks.