CMB.Tech’s announcement on Tuesday evening that it is taking over John Fredriksen’s bulker company Golden Ocean Group caught the shipping market cold.

The sale itself and the identity of the Saverys family-backed buyer surprised market observers.

John Fredriksen in bulker retreat as CMB.Tech spends $1.2bn for his entire stake in Golden Ocean
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CMB.Tech has gained extra dry cargo exposure through the $1.2bn