Greece’s Diligent Holdings was one of few buyers in the secondhand market for dry bulk ships last week, in a deal that is indicative of a drop in values following the slump in freight rates for such vessels.

Market sources have named rapidly expanding Diligent as the buyer of the 55,600-dwt Triton Valk (built 2009) for $11.25m. The vessel is understood to have been sold by its previous owner, Triton Navigation, for prompt delivery.