Brokers say the Martis Culucundis-led company has bought the 75,100-dwt Thalia (built 2001) for $9.7m. Culucundis was not available for comment.

This would be Shelton’s second purchase since November, when it bought the Thalia’s sistership, the Hitachi-built Marina (renamed Antigoni). Although one year older than the Thalia, the Marina fetched a far higher price of $11.75m in a clear sign of falling secondhand values in the segment.