Greek owners purchased one-third of the ships to change hands, according to Steve Gordon, managing director of the division.

In all, 21 million dwt of dry cargo tonnage was traded in the secondhand market during the opening six months of 2016.

This is the highest level seen in tonnage terms since the first half of 2007, when the last bull market was in full swing and prices were at the opposite end of the scale, data from the world’s largest shipbroker shows.