Raffaele Zagari says there has only been one shipowner in his family.

That was his grandfather, Captain Salvatore Cafiero, who founded the Augustea Group in Naples in 1955. The generations of the Cafiero-Zagari family who followed never felt they had to own ships to realise their potential, he says.

So it was not a terrible wrench when the 49-year-old Italian agreed the deal to hand over the keys of 16 bulkers in a recent deal with Star Bulk Carriers.