Shipping dynasty dumps Atlantic Sapphire in shock $4.5m bloodbath

Editorial staff

AS Clipper, a Norwegian investment firm, represents Norwegian shipbroking tycoon Inge Steesland’s heirs.

Investment firm AS Clipper, overseen by the Steensland family, has divested its stake in Atlantic Sapphire after three years, according to Norwegian financial daily Finansavisen.

Records indicate that in late October 2020, the Steensland family acquired 177,000 shares in Atlantic Sapphire at slightly above NOK 102 each.

Throughout 2021, despite declining prices, the family increased their holdings. However, following setbacks stemming from engineering and biological challenges, Atlantic Sapphire’s stock plummeted.

Recent revelations of a liquidity shortage and a subsequent stock issue drove the share price down further to NOK 2.70 last week. AS Clipper has now offloaded all its shares, resulting in a reported loss of NOK 48.8 million ($4.5 million).

AS Clipper, a Norwegian investment firm, represents Norwegian ship broking tycoon Inge Steesland’s heirs: Michael Steensland-Brun, Menne Steensland, and Melanie Tone Steensland Gotteberg. The company, alongside its associated units AS Audley, AS Straen, Clipper Eiendom AS, Barque AS, and Corneliussen Invest AS, manages various investments and assets for the Steensland family.

A decorated war hero, Inge Steensland was chairman of the eponymous broking firm Inge Steensland, a company which he formed in 1960. He made a fortune through his share in the shipping company Solvang, as well as real estate investments.