Shell follows Conoco Phillips and sells stake in Greater Sunrise to the Timorese government.
Chinese state-owned investment group is the latest in a growing list of ship lessors.
Amid rising charter rates, KSS Line to dedicate one VLGC to transporting LPG for Swiss commodity group.
Chinese finance lessors have been increasing their presence in shipowning; CMB FL now has nearly 70 vessels.
Rising VLCC charter market prompts reversal; Shell taking nine tankers on long charter, company working with Chinese bank to bolster liquidity.
The sale comes two months after Bomin said it was exiting the bunker market in Antwerp as part of a re-evaluation of its global business that will leave Bomin just with hubs in Hamburg and Houston.
The better conditions come after the tanker market suffered its worst year in 25 years, while the dry cargo market has slowly recovered from a sustained downturn.
BIMCO mission will be one of continuity – advising its 2,100-strong shipowner membership on economic and regulatory challenges – but Sadan Kaptanoğlu is also determined to bring younger people into the organisation.
Having traditionally focused on financial products, BGC looks set to expand into oil and gas with the Poten & Partners acquisition.
Rates have been buoyed by increased US exports and a rebound in the crude tanker market, according to Danish owner Torm.