Norwegian fund manager Joakim Hannisdahl has cut his exposure to VLGC shipping with rates at elevated levels but an extensive orderbook pending.
The former Cleaves Asset Management (CAM) boss said in an update on his private portfolio that he sold his 5% long position in Singapore owner BW LPG on Wednesday.
He has simultaneously entered into a 5% short position, in effect betting that the stock will drop in value.
