Shares in the US-listed shipowner were up over 10% on Monday in the first day of trading since the sale and leaseback deal was announced.

Close to 120,000 shares changed hands in the company as the share price closed up 24 US cents to $2.59 each.

On Friday the Greek owner confirmed it had bought the 5,500-teu YM New Jersey and YM Los Angeles (both built 2006) for $21.5m