Two major-bank equity analysts that exclusively covered shipping have expanded into other industries, in a further sign of waning investor interest in the maritime sector.

Spiro Dounis of UBS has taken on coverage of refining companies, while counterpart Amit Mehrotra, at Deutsche Bank, has expanded his research into US trucking firms.

Dounis said in an interview this week: “I haven’t stopped covering shipping, but I now cover shipping and refining.”

“I’m just allocating my time between the two. It’s largely a function of what our clients are interested in, and they’ve taken their foot off the pedal a little bit with shipping.