Activists Target Japan’s Shipping Stocks on Rising Vessel Prices

Activist investors are piling into Japanese shipping stocks as limited shipbuilding capacity and elevated freight rates boost the value of their fleets.

Elliott Investment Management LP said earlier this month that it has taken a “significant” stake in Mitsui OSK Lines Ltd., adding that “the market materially undervalues the business”. This follows a similar move by investment firm Fuel, which built a stake of about 5% in Tamai Steamship Co.