Shanghai: One of the largest investors in Chinese shipbuilding has revealed a significant amount of wheeling and dealing. Bourbon, the French offshore shipping firm, said it has sold and chartered back 18 ships worth $528m in the final weeks of last year. Bourbon clinched a $1.5bn deal with ICBC Financial Leasing to sell 51 ships, 12 have been handed over lately, the Paris-based company revealed. Nine were shifted earlier in 2013 with the remaining 30 set to be transferred in the first half of this year. Meanwhile, Bourbon also sold six ships to Standard Chartered for $150m, with an agreement to charter them back for 10 years. [08/01/14]
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