ShippingWatch

Norway's oil fund expands monitoring of shipping sector

The blacklisting of several carriers is only the first step in a broader monitoring of the shipping sector by the world's biggest independent investor, the Norwegian state's oil fund. Chairman of the fund's Council on Ethics, Johan H. Andresen, talks to ShippingWatch about the plans.

Johan H. Andresen, Chairman of the fund's Council on Ethics Photo: Jan Richard Kjelstrup/AS/Creative Commons/Attribution 2.0 Generic (CC BY 2.0)/Redigeret

It is extremely rare for an independent investor to publicly announce a ban on several of the shipping shares in which they have invested.

Yet this was done last week by the world's largest independent investor, Norway's Government Pension Fund Global, (GPFG), and the blacklisting of the four carriers, in which the fund will no longer own shares, caught notice.

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