Norwegian investor Arne Blystad has cut his stake in Germany's MPC Container Ships (MPCC) to below 5%.
His Songa Capital offloaded 800,000 shares in the Oslo-listed company on 23 September, a filing shows.
Blystad and his immediate family now hold 21.79m MPCC shares.
The investor took a 6.5% stake in June when his Songa Container sold its 11 boxships to MPCC for $210.5m in cash and stock.
The disposal at Friday's price of NOK 21.70 would be worth NOK 17.36m ($2m).
MPCC's shares were priced at NOK 19.84 on 11 June, the day the transaction was sealed.
Blystad has since been investing in fresh tonnage through his newly established Songa Box.
TradeWinds reported earlier in September that his privately owned interests signed a deal for two 1,800-teu containerships at Huanghai Shipbuilding in China, with deliveries starting towards the end of next year.
Songa Box started operations with three vessels acquired in the spring.
Since then, Blystad has acquired three more small containerships.
TradeWinds reported that his private interests had picked up the 2,872-teu Robin 1 (built 2009), the 1,740-teu Hansa Falkenburg (built 2008) and 3,091-teu Barry (built 2004).
MPCC's fleet of 75 makes it a significant player in the small ship market.
Following the fleet deal, Blystad described the German company as "perfectly positioned to generate super profits in the current strong container market and to consolidate this segment further".
