Greek players continue making countercyclical moves in the tanker market, piling on newbuilding tonnage at Far Eastern yards.

Ancora Investment Trust homed in on an MR newbuilding option dropped by an unidentified shipping company in Vietnam. At the same time, Chandris (Hellas) and Pleiades Shipping Agents exercised options for aframax-size ships in South Korea.

The moves are characteristic of a firm belief among companies in Athens and Piraeus that tanker markets will eventually rebound from sluggish freight rates and that uncertainty about future environmental standards will not affect the profitability of ships currently under construction.