The company has already raised more than $50m from ship sales this year.

Adding to that, the Tokyo-based dry bulk operator, which has been undergoing a financial restructuring, said this week it had sold its 62.1% shareholding in Japanese coastal and ro-ro operator Izumi Kisen.

Daiichi values the sale of its 3.726 million shares in the company at ¥2.1bn ($17.5m).