Market sources say the Lou Kollakis-led firm has bought the Indian-owned, 81,200-dwt Prabhu Mohini (built 2011). The South Korean-built ship is said to have fetched $17.2m but TradeWinds understands the price was slightly above that.

Online platform VesselsValue.com pegs the present price of the kamsarmax at $18.9m but the reported sale price is more in line with that paid for similar tonnage in the recent past.