ShippingWatch

Norwegian fund discontinues energy trading venture

Norway's Vistin group has decided to cease all trading with energy derivatives after a bet on bunker prices ahead of the 2020 sulfur regulations failed. Until last week, the venture was headed by a well-known oil analyst.

Torbjørn Kjus, former oil analyst at DNB Markets, headed the fund. He chose to step down last week. | Photo: DNB

A Norwegian fund, which until recently was headed by well-known oil analyst Torbjørn Kjus, has now ceased trading with energy derivatives altogether.

Last week, the fund Vistin Trading announced that it had lost a little over NOK 100 million (USD 11.5 million) speculating on bunker prices. The day before, Torbjørn Kjus resigned from his position as head of energy trading at the venture, which is part of the listed pharmaceutical group Vistin Pharma.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Norden books "fantastic" second-quarter result

Product tanker and dry bulk company Norden bags a result for the second quarter that the carrier itself describes as ”fantastic.” CEO Jan Rindbo says this is due to the ”exceptional” product tanker rates, according to a financial statement.

Further reading

Related articles

Latest news

See all jobs