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.