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Cleaves Shipping Fund divests from firms handling Russian cargoes

Photo of Sam Chambers Sam ChambersAugust 18, 2022
1,142 Less than a minute
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Joakim Hannisdahl-led Cleaves Shipping Fund has divested from shipping companies that continue to handle Russian cargoes, with the likes of Tsakos Energy Navigation and Okeanis Eco Tankers no longer covered by the Norwegian investment vehicle.

“The fund will not partake in Russian oil trading as things stand now,” Hannisdal tweeted, saying he had spent time improving the company’s in-house algorithms to better monitor this trade.

Cleaves Asset Management is a long/short shipping-focused hedge fund founded in October last year, which has quickly built up a substantial following. 

Greek owners have repeatedly had to defend themselves from criticism over the past seven months for carrying the most about of Russian commodities since war with Ukraine began.

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Photo of Sam Chambers Sam ChambersAugust 18, 2022
1,142 Less than a minute
Photo of Sam Chambers

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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