All shipowners might like to think that they have a little bit of pirate in them, sailing the high seas in search of treasure, reckons brokers Gibson in a recent report.

The bounty today, according to Gibson, is in the value of their hulls - along with the freight they earn, which is demonstrated in recent days by the rumours surrounding the four-year-old Delos, which Gibson suggests has just been sold to a Middle Eastern buyer for $116m. The vessel was reportedly contract...