In its fourth-quarter conference call with investors, chief executive John Coustas said the New York-listed operator is looking to exploit a decline in asset values.

He noted the dip has been driven by an imbalance in supply and demand on long-haul trade lanes, which has taken a toll on time charter earnings and the employment potential of mid-sized tonnage.

“In this context we are currently investigating to make selective acquisitions within 2013 to renew part of our older fleet,” Coustas said after regurgitating the company’s fourth-quarter