20/02/2019at 15:24

Former Fredriksen execs' hedge fund takes big hit on shipping

A hedge fund established by several of John Fredriksen's former key employees finished 2018 with a negative yield. "It was a perfect storm in the fourth quarter," says the fund.

by CHRISTIAN CARLSEN

Norwegian-British hedge fund Titan Opportunities, which was established by several of John Fredriksen's former key employees, lost more than 20 percent on its investments in shipping and offshore in 2018, reports Dagens Næringsliv.

Already a subscriber?Log in here

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.

With your free trial you get:

Access all locked articles
Receive our daily newsletters
Access our app

Get full access for you and your coworkers

Start a free company trial today

Former employee of Fredriksen companies reported for disloyalty
For subscribers
Hedge fund with 69 percent return sees more to come from oil recovery
For subscribers
Here is the list of strained Aegean Marine's creditors
For subscribers

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

Front page now

Maersk CEO Vincent Clerc (left) and MSC CEO Søren Toft are following very different strategic directions. | Foto: Jacob Gronholt-pedersen/reuters/ritzau Scanpix og Jason Decrow/ap/ritzau Scanpix

Container

Maersk could be heading for a price war with MSC

After a profit of historic proportions in 2022, Maersk is facing a new reality this year, entailing a potential price war unleashed by the carrier’s partner in the disbanded 2M alliance, MSC, predicts Drewry.

For subscribers

Krisen på fragtmarkedet styrker DSV's position i forhold til rederierne: ”I og med at vi er en af de store aftagere af søfragt, har vi også et samarbejde med rederierne, som er strategisk og forankret i direktionen,” siger DSV's topchef, Jens Bjørn Andersen. | Foto: Lars Krabbe/Foto: Lars Krabbe/Ritzau Scanpix

Logistics

DSV to support box carriers that provided help during Covid chaos

For subscribers

Tanker

Countdown to clash over Euronav's board composition has begun

For subscribers

Maersk is heading for its second record profit, setting a new benchmark in Danish business history. | Foto: Jonas Walzberg/AP/Ritzau Scanpix

Container

Maersk on track to achieve record profit for second consecutive year

For subscribers

Offshore

Danish authorities suspending 23GW of offshore wind projects

For subscribers

Container

Maersk redirects traffic following earthquake

For subscribers

Danish authorities suspending 23GW of offshore wind projects

The Danish Energy Agency has temporarily halted all processing of projects applying for licenses via the national open-door ordinance to await the EU’s assessment of the scheme’s compliance with EU law.

For subscribers

Foto: Norges Rederiforbund/Norwegian Shipowners' Association

Offshore

Fredriksen company raises funds for arbitration case against shipyard

Fredriksen-owned drilling contractor Northern Drilling has raised USD 10m to finance an arbitration case against a DSME yard in relation to annulled contracts.

For subscribers

Ports

European ports launch offshore wind collaboration

Last year marked the beginning of a new European collaboration, which has now prompted six wind ports to sign a deal on realizing offshore wind ambitions.

For subscribers