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Wilbur Ross offloads Diamond S stake and readies Navigator sale

Wilbur Ross offloads Diamond S stake and readies Navigator sale

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The under fire American commerce secretary Wilbur Ross has sold his stake in Diamond S Shipping, but has yet to offload his investment in Navigator Holdings.

Ross’s stake in Navigator was one of the key headlines emanating from the so-called Paradise Papers – a leaked set of 13.4m confidential electronic documents relating to offshore investment havens.

Navigator has close dealings with Sibur, a Russian energy firm whose owners include prominent advisors to – and family members of – Russian President Vladimir Putin.

Interviewed on Monday Ross suggested he was looking at selling his stake in Navigator.

The Center for Public Integrity, however, is reporting that while he has yet to offload his Navigator stake, Ross has sold his entire holdings in Diamond S Shipping earlier this year. Diamond S Shipping was formed in 2011 with an initial outlay of $1.17bn.

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Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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