Billionaire investor Wilbur L Ross is retaining his economic interest in major shipping investment Diamond S Shipping while resigning his position as non-executive chairman, according to newly filed disclosures.

The disclosures were filed on the eve of Ross’ confirmation hearing before the US Senate today as President-elect Donald Trump’s nominee for commerce secretary.

A quick review of Ross’ disclosures does not shed the same light on his ownership position in Navigator Holdings, the liquified petroleum gas (LPG) player that is his other major shipping investment.

In the section applying to Diamond S, an owner of products carriers and suezmax tankers, and six other companies not related to shipping, Ross indicates the following:

“I hold a financial interest in each of these entities. Accordingly, with regard to each of these entities, I will not participate personally and substantially in any particular matter that to my knowledge has a direct and predictable effect on the financial interests of the entity or its underlying assets for as long as I own it, unless I first obtain a written waiver, pursuant to (applicable US laws).”

In another section of the disclosure, Ross reveals nine more entities in which he will retain financial interests, and offers the same comment as above with regard to waiver conditions.

He adds: “The holdings of these entities are limited to the following sectors: (1) real estate financing and mortgage lending, and (2) transoceanic shipping. The following entities are no longer acquiring new assets, and they will not acquire any new assets during my appointment to my position as Secretary…

“As the senior ethics official for the Department of Commerce, you have advised me that it is not necessary at this time for me to divest the entities identified in this section, inasmuch as the likelihood that I will need to participate in any particular matter affecting these entities is remote.

“However, I will remain vigilant in identifying any particular matters affecting the interests of these entities and their holdings, including both particular matters involving specific parties and particular matters of general applicability. You have explained that particular matters of general applicability are much broader than particular matters involving specific parties because they include every matter that is focused on the interests of a discrete and identifiable class of persons, such as an industry.”

The shipping-specific disclosure come as Ross filed forms revealing assets worth $336m and resigned his position with 38 entities, including major holding companies Invesco Ltd and WL Ross.

Connecticut-based Diamond S Shipping is led by chief executive Craig H Stevenson Jr. It owns 33 medium range (MR) products tankers and 10 suezmaxes.

Diamond S remains privately owned after Ross withdrew from a 2014 initial public offering for the products fleet, declining to accept a valuation he said was below the fleet’s net asset value (NAV).