The UK high court has rejected a Greek owner's claim that he is not liable for loan defaults on two bulkers financed by HSBC.

The bank brought a claim for $9m against low-profile Dimitrios Kritsas, president and owner of Kritsas Shipping, following a default on $30m of borrowings in 2016 after bulker market woes.

The loans financed the 47,000-dwt Aurora Pearl (built 2000) and Aurora Onyx (built 2002) respectively and were governed by English law.