Zazove has sold off its 1,960,611shares in the New York-listed company, according to a regulatory filing releasedafter the close of trading in the US on Tuesday.

The hedge fund had been sittingon a 5.17% slice of the Peter Georgiopoulos-headed firm.

While no price for the shares wasreleased based on the shipowner’s last trading price the stock was worth almost$5m.

Analysts are expecting Genco tolog a loss of $3.20