Eyal Ofer’s Zodiac Maritime is taking advantage of the current low prices for bulker tonnage to renew the company’s fleet of large bulkers.

The Monaco-headquartered shipowner has just bought the only capesize in the fleet of Italy’s Giuseppe Bottiglieri.

The 175,000-dwt Giuseppe Bottiglieri (built 2011), which is due for special survey in December, has gone for $15.7m, according to European brokers.