Evermore Global Advisors jumped into shipping with both feet in 2015/2016, but it is fair to say that one foot is now clearly out.

The New Jersey-based investor more than halved its overall shipping portfolio in 2020, selling more than 2.4m shares in companies such as Frontline, Genco Shipping & Trading and Scorpio Bulkers.

Filings with US securities regulators show Evermore also sold its minor positions in Star Bulk Carriers and Tsakos Energy Navigation entirely.

But Evermore's David Marcus and Tommy O told TradeWinds that while they will probably never have such a large concentration of their portfolio in shipping again, they have not lost faith in the sector and will add positions at some point.