John Angelicoussis-fronted Maran Tankers is third with an $89m outlay, ahead of Golden Union and Navios Acquisition.

TradeWinds reported in its latest print issue last Friday that Greek owners had invested around $3.5bn in second hand ships during the first four months of 2014.

The US at $1.74bn and Norway at $1.11bn are the other countries to have broken the $1bn barrier in the first half, VesselsValue says.

GasLog