Evermore Global Advisors has taken an interest in Genco Shipping & Trading, having bought more than two million shares as of last year's close.
The US-based financial services firm holds a 5.3% stake in the bulker owner, according to a filing with the Securities and Exchange Commission (SEC).
The SEC requires investors who take an at least 5% position in a listed company to enter a public filing.
Evermore on 31 December acquired 2.22m common shares of John Wobensmith-led Genco, which has 41.8m units outstanding.
Top shareholder Centerbridge Partners holds 10.5m shares representing 24.8% of the company, while Strategic Value Partners has 8.17m units reflecting a 19.65 share.
Evermore's investment puts it third on the list of biggest investors in Genco, whose shares have dipped 3.9% to $8.03 through early afternoon.
Genco has brought more capesizes back to the Atlantic basin after completing a scrubber retrofit programme for 17 such vessels two weeks ago.
