John Angelicoussis took a rare double dip into the capesize sale-and-purchase (S&P) market over Christmas, spending close to $250m on seven vessels from two public companies.

His move emerged at the same time as Norwegian owner John Fredriksen added two capesize resales to an ever-growing private fleet, fuelling the suggestion that now is the time would-be dry cargo investors have been waiting for.

Angelicoussis’