By Jonathan Saul and Maiya Keidan LONDON, Feb 20 (Reuters) - A growing number of hedge funds are moving into shipping debt, an asset class few have invested in before, looking to buy up loans and bonds as banks cut their exposure to the troubled sector. World economy worries and cost pressures are dampening prospects for a proper recovery in many segments of the shipping … [Read more...]
U.S. Fund Manager to Launch First ETF for Shipping Futures
By Jonathan Saul and Maiya Keidan LONDON, March 8 (Reuters) - U.S.-based fund manager Breakwave Advisors is launching the first exchange-traded fund (ETF) focusing on freight futures, reflecting growing investor interest in shipping as it emerges from a near-decade long crisis, a regulatory filing showed. Around 90 percent of traded goods by volume are transported by … [Read more...]
Hedge Funds Hook Shipping Stocks Grappling for Recovery
By Maiya Keidan and Jonathan Saul LONDON, Feb 15 (Reuters) - Shipping stocks may still be in the doldrums in the view of many investors, but hedge funds have bet at least $675 million on signs of renewed buoyancy in the industry. Hedge funds made initial forays into shipping stocks in the third quarter of 2017, but significantly stepped up their bets in the final three … [Read more...]
Norway Wealth Fund Dumps Shipping Investments, Others on Ethics Grounds
By Jonas Bergman (Bloomberg) -- Norway’s wealth fund dumped a series of companies involved in making nuclear weapons and excluded others based on human rights concerns as the $1.1 trillion investor steps up its scrutiny over how corporations behave. AECOM, BAE Systems, Fluor Corp. and Huntington Ingalls Industries Inc. were excluded “because of their involvement in the … [Read more...]
APL Turnaround Boosts CMA CGM Q1 Profits
By Gavin van Marle (TheLoadStar) A dramatic turnaround in the fortunes of recently acquired APL helped French carrier CMA CGM offset a slight decline in revenue and volumes in the first quarter of this year. CMA CGM said APL, acquired from the Singaporean government in a $2.4bn deal last year, had managed to post a quarterly operating profit for the first time … [Read more...]