Hermitage Offshore president Robert Bugbee has upped his stake in the company.
The New York-traded PVS owner announced after the close Wednesday that on 1 October the shipping veteran bought 70,000 shares at $1.03.
Hermitage shares closed at $1.05 Tuesday and opened at $1.10 Thursday.
Bugbee took a leadership role in Hermitage after the Scorpio Group took control of Nordic American Offshore with a $5m private placement last December.
The move comes after he bought two tranches of Scorpio Tankers options, paying $492,000 for options on 150,000 shares last week and $265,000 for another 100,000 on Tuesday.
Those options have $28 and $33 strike prices respectively.
Scorpio Tankers shares opened at $31.03 Thursday.
