Norwegian tycoon John Fredriksen has invested in Star Bulk Carriers, taking a passive stake in the dry bulk company.
According to a relevant SEC filing, companies linked to Fredriksen hold 11.8 million shares of Star Bulk Carriers, a Nasdaq-listed company controlled by Petros Pappas, representing a 10.7% ownership stake.
Star Bulk Carriers is the largest dry bulk company listed on the U.S. stock exchange and the second largest listed globally.
The shipping company, headquartered in Athens, Greece, operates a fleet of 128 vessels focused on the transportation of dry bulk commodities.