Oslo-listed ADS Maritime has become a shareholder in John Fredriksen-controlled bulker owner Golden Ocean.
The Terje Bodin Larsen-led shipping investment company established in 2018 acquired 130,000 shares in Golden Ocean for about $1m.
Golden Ocean, the world’s largest listed owner of large-size dry bulk vessels with a 97-strong fleet, including four newbuildings, and an aggregate capacity of around 14.3m dwt, logged a net income of $34.9m and earnings per share of $0.17 for the second quarter of 2023.
ADS revenue typically consists of dividends received and various management fees since the company does not hold any controlling interest in the various shipowners. As for Golden Ocean, the company plans to pay out a cash dividend of $0.10 per share for the second quarter on or about September 19.
In addition to buying into Fredriksen’s bulker giant, ADS revealed it had sold all of its shares in Gram Car Carriers it picked up in March for a profit. The company reported close to $1m net profit in Q2 2023.
