Norwegian shipping tycoon John Fredriksen has given a vote of confidence to Greek shipowner Petros Pappas’ Star Bulk, increasing his stake to nearly 12% and placing a close associate on the board of directors.
According to SEC data, Greenwich Holdings and Famatown Finance, companies owned by Fredriksen, now hold 13.57 million shares of Star Bulk, corresponding to 11.84% of the share capital.
The Norwegian first emerged as a shareholder in March with a 10% stake, shortly after the sale of 40.8% of Golden Ocean to CMB.TECH for 1.2 billion dollars.
On October 3, Star Bulk announced the appointment of Mikkel Storm Weum to its board of directors. Weum is Investment Director at Seatankers Management Norway, Fredriksen’s private shipping company.
