Arne Fredly sees many shipping companies as "pure fraud"

Norwegian shipping magnate Arne Fredly, who controls Hunter Group, among other businesses, calls it a "sad story" to be an equity investor in the shipping industry. He says that upwards of 80 percent of stock listed shipping companies are "pure fraud".

Photo: PR / Euronav

Norwegian shipping magnate and investor Arne Fredly, who controls companies such as Hunter Group, perceives many stock listed shipping companies as being pure fraud, and it has made it a sad story to be an equity investor in the industry, Fredly says in a podcast with Finansavisen.

"Basically, I think being an equity investor in shipping has been a sad story. It's mostly because 60 to 80 percent of the listed shipping companies are pure fraud," Fredly said.

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