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The company also agreed a sale-and-leaseback deal with Oslo-listed leasing company Ocean Yield for two newcastlemax newbuildings
Earnings for very large crude carriers on routes to Asia from the Middle East Gulf plunged the most
Parent company sells a 5% stake in BW LPG but still controls about 42%
The agreement with white knight Lecca Group to pump in $9.7m and buy pipelaying barge Kota Laksamana 101 for $21m was terminated as a result of the move
The family has boosted its majority stake in the Oslo-listed firm just as QVT Financial becomes its second-largest shareholder
Rates surged after US sanctions imposed on September 25 on two tanker subsidiaries owned by China’s state-owned Cosco for shipping Iranian crude spooked refiners and traders, who shunned all tonnage connected with the world’s largest shipping company
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