Bugbee bought 12,000 more shares in the dry-bulk company on Wednesday, according to a securities filing in the US. SALT shares had dipped on the day, having firmed  since Bugbee revealed a 125,000-share investment after close of trading 9 May.

As TradeWinds reports in its weekly edition, Bugbee is taking a page out of the script that helped make him a fortune during his days as president of the former OMI Corp.