Public listings in the US shipping sector have dwindled, with mergers and privatisation now driving market activity, reported UK's Seatrade Maritime News.

At Marine Money's New York conference, Evercore banker Mark Friedman described "The Great Unwind," where both US and overseas markets have seen consolidations. He noted that while about 50 shipping companies gained listings through 2010, only two major IPOs followed in the 2010s: Euronav in 2015 and Zim in 2021.

Mr Friedman said investors now favour larger companies that benefit from scale, synergies and liquidity, which in turn support stronger valuations. He highlighted frothy conditions in the tanker market and pointed to consolidation as a trend welcomed by equity analysts.

The privatisation wave reflects high costs of being public and pressures to distribute capital. Private firms, Mr Friedman argued, have greater flexibility to invest counter-cyclically. Recent examples include LNG player CoolCo acquired by Eastern Pacific Shipping and Saltchuk's purchase of OSG.

Debate at the conference included criticism from Nikolaus Schues, CEO of F Laeisz and former Bimco president, who suggested listed companies had alienated investors by adopting shareholder-unfriendly tactics such as poison pills to block takeovers.