Kristian Jebsen’s Gearbulk has closed the doors of its London office following its new G2 Ocean joint venture with Grieg Star.

Some jobs will be lost in the UK capital following a move that one source calls “Gearbulk’s Brexit” — but it appears to be a commercial rather than political decision.

Gearbulk managing director Ketil Andreassen says G2 Ocean was established to ensure a continued long-term activity within the open hatch and conventional bulk sectors.