Expect John Fredriksen to make some very significant acquisitive moves in either dry bulk or offshore in the coming weeks. Norway’s richest man has sold an NOK4.42bn ($510m) stake in fish farmer Marine Harvest after a surge in salmon prices.
Sources tell Splash that Fredriksen is eying a move in the dry bulk markets via Golden Ocean, similar to how he set up a fund to buy distressed assets in the offshore markets. Golden Ocean has been looking to staff up in recent weeks, Splash can reveal, as it looks to make the most of the historically poor dry bulk markets with aggressive expansion.
Splash reported last month that Marine Harvest had become Fredriksen’s most valuable equity holding, symptomatic of the surging price for salmon and the falling price of oil.
In December, Fredriksen formed a new firm, Sandbox, to acquire distressed rig newbuilds. Sources close to the 71-year-old expect Fredriksen to use the $510m from the Marine Harvest sale to snap up bargains in either dry bulk or offshore very soon.