Norway’s Gersemi Asset Management took advantage of rising bulker company stock prices in February.
Its shipping fund began February mainly positioned long on tankers, but with a minor long position in containers, while being similarly short in dry bulk.
“We used the usual large capital inflow on the monthly dealing day to reduce our long exposure in oil tankers, with our oil tanker index falling significantly during the first week in February,” principal Joakim Hannsidahl explained.
