- Advertisement -
- Advertisement -

Maersk’s tanker unit invests in quant hedge fund

- Advertisement -

Stockholm (HedgeNordic) – The Danish company Maersk has taken an undisclosed stake in CargoMetrics, a quantitative hedge fund backed by the likes of Paul Tudor Jones and Google’s Eric Schmidt, to improve fleet deployment, according to Reuters.

The Copenhagen-based tanker company, which is part of Danish shipping group AP Moller-Maersk, has taken an undisclosed but “significant” stake in the Boston-based hedge fund set up by a former US Coast Guard officer and in return will gain exclusive access to its data and algorithms.

The reason Maersk invests into the venture is to better predict demand and improve the deployment of its 160-strong fleet to take advantage of price trends, Soren Christian Meyer, head of strategy at Maersk Tankers, told the Financial Times.

“It’s important to have tankers at the right place at the right time. It’s an industry that has been based on gut feeling on where and when to move capacity, but we want to challenge that industry paradigm. Our investment in CargoMetrics will speed up our digitalisation”, Meyer said.

CargoMetrics links satellite signals, historical shipping data and proprietary analytics for trading purposes in its systematic investment platform.

“Data about the ninety-percent of global trade that moves by sea is a powerful trading edge,” said Scott Borgerson, Chief Executive of CargoMetrics in a statement.

The investment is in line with the more than 100-year old conglomerate A.P. Moller-Maersk’s push into new technologies as global trade becomes increasingly more digital.

“In the partnership, we will accelerate our use of digital solutions to enable our business strategy,” said Maersk Tankers Chief Strategy and Transformation Officer Soren Meyer.

Picture (c): Montri-Nipitvittaya-shutterstock.com

Subscribe to HedgeBrev, HedgeNordic’s weekly newsletter, and never miss the latest news!

Our newsletter is sent once a week, every Friday.

Jonathan Furelid
Jonathan Furelid
Jonathan Furelid is editor and hedge fund analyst at HedgeNordic. Having a background allocating institutional portfolios of systematic strategies at CTA-specialist RPM Risk & Portfolio Management, Mr. Furelid’s focus areas include sytematic macro and CTAs. Jonathan can be reached at: jonathan@hedgenordic.com

Latest Articles

Nordic Hedge Funds Sustain Momentum

Stockholm (HedgeNordic) – Following its strongest first quarter in 15 years, the Nordic hedge fund industry sustained momentum into April. As reflected by the...

The Hands-On Approach of NCI Advisory in Debt Investing

Stockholm (HedgeNordic) – With over 45 years of expertise in structured finance and debt asset management, Jørgen Beuchert has dedicated the last 15 years...

Hedge Fund Journal: Calculo Best in Commodity Trend Following

Stockholm (HedgeNordic) – Calculo Evolution Fund, a pure commodity trend-follower based in Denmark, has been recognized as the “Best Performing Commodity Trend Follower” over...

SRV’s Multi-Pillar Fixed-Income Strategy

Stockholm (HedgeNordic) – Despite Danish mortgage bonds being widely regarded as almost risk-free, occasional spikes in risk aversion trigger significant spread widening versus government...

DBi Pioneers Cost-Efficient Access to CTA Performance

Stockholm (HedgeNordic) – Trend-following CTAs or managed futures vehicles are often seen as effective diversifiers within investment portfolios, exhibiting limited correlation to equity and...

Swiss Bank Eyes Global Equities Through Quant and Options Overlay Funds

Stockholm (HedgeNordic) – A Swiss private bank is seeking to allocate a minimum of €20 million to a fund specializing in global equities through...

Allocator Interviews

Latest Articles

In-Depth: High Yield

Voices

Request for Proposal

- Advertisement -