BlackRock emerges as major shareholder in Fredriksen’s Golden Ocean

BlackRock, one of the largest asset managers in the world, has become a major shareholder in John Fredriksen-backed Golden Ocean Group.

The Nasdaq- and Oslo-listed bulker owner revealed in a filing on Tuesday that BlackRock holds a 5.07% stake in the company.

The Golden Ocean holding makes BlackRock the second-largest investor, with some 10.2m shares, worth around $92m at today’s price.

Golden Ocean, with a fleet of 97 vessels, including 10 under construction, reported a net income of $163.7m and earnings per share of $0.82 for the second quarter of 2022, up from $125.3m and earnings per share of $0.63 in Q1 of the same year.

Jefferies research analyst Omar Nokta last month maintained a buy rating on the company with a price target of $14 and earnings per share of $0.35 and $0.51 for the third and fourth quarter, respectively.