The Greek owner’s private vehicle, Cardiff Marine, is said to have switched a pair of large bulker newbuildings into two mega- containerships.

Market sources say Cardiff has converted two of the six 208,000-dwt newcastlemaxes it has on order at Singapore-listed Yangzijiang Shipbuilding into a pair of 11,000-teu vessels.

“Cardiff is due to take delivery of four newcastlemaxes in 2016 and two in 2017,” said one source.