Danaos Corp has bought a further $32m in shares of Star Bulk Carriers, probably making it the second-biggest investor in the company after John Fredriksen.

The disclosure shows Danaos has picked up 2.06m more shares on top of the stake it acquired through its previous investment in Eagle Bulk Shipping, which Star Bulk took over last year.

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Days earlier, Fredriksen, the Norwegian shipping magnate, revealed that he bought 1.54m more shares in Nasdaq-listed Star Bulk, giving him a $200m holding in the Greek bulker owner.

Danaos, a New York-listed container ship owner led by John Coustas, told US securities regulators that it holds 6.13m shares in Star Bulk. The full stake is worth about $95m at recent prices.

The stake represents 5.23% of Nasdaq-listed Star Bulk, according to the document filed with the US Securities and Exchange Commission.

The document signed by Danaos chief financial officer Evangelos Chatzis is a 13G, an indication that the shipowner intends to continue to be a passive investor in Star Bulk.

In an Eagle Bulk filing just before the Star Bulk takeover closed in April last year, Danaos had 1.55m shares in the Connecticut shipowner, giving it a 14% stake in Eagle Bulk.

Shareholders received 2.62 Star Bulk shares for each unit of Eagle stock, which would have yielded 4.07m shares for Danaos.

Danaos now has one of the biggest positions in Star Bulk’s shares.

Fredriksen holds 11.4% of Star Bulk’s shares, after first taking a 10% stake in March.

In late February, the largest shareholder in Star Bulk’s then-fragmented investor base was Oaktree Capital Management, which held 4.5%. The private equity giant had owned 25.3% two years before.

The interest in Star Bulk Carriers shares by Fredriksen and Danaos may be a case of buying the dip, with the stock price hovering near a four-year low.

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