BlackRock lifts stakes in two energy shipping stocks despite GasLog exit

US financial firm BlackRock has lifted its stakes in Teekay Tankers and Golar LNG.

The investments emerge on the same day that TradeWinds reported that the asset management giant had taken the exit door at LNG shipowner GasLog.

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The firm told the US Securities and Exchange Commission (SEC) that it now controls 5.6% of Teekay Tankers shares, up from a previous stake of 5.1%.

BlackRock controls 1.67m shares in the New York-listed tanker owner, up from the 1.5m in an August filing, when Teekay Tankers listed the asset manager as its third largest shareholder, after Teekay Corp and Dimensional Fund Advisors.

At Thursday’s stock price, the stake is worth more than $82.9m.

BlackRock also said it holds more than 5.68m shares in Golar LNG, which gives it a 5.5% stake in the New York-listed outfit.

The stake is worth $213m at Thursday’s price.

In February, BlackRock disclosed that it had 5.19m shares that gave it just under 5% of Golar LNG.

The larger position disclosed on Thursday could put BlackRock in the position of Golar’s second largest shareholder. Cobas Asset Management, formerly in the second position on the company’s shareholder rolls, reported holding just 5.09m shares in July, which was worth 4.9%.

Led by chief executive Larry Fink, BlackRock is considered the world’s largest asset manager, with $11.5trn under management at the end of last year.

Earlier on Thursday, TradeWinds reported that BlackRock sold its 45% stake in private LNG shipowner GasLog to GIC, an arm of Singapore’s sovereign investment fund.

Greek shipowner Peter Livanos remains the leading shareholder in that company, which BlackRock helped take private in 2021.

“GasLog has enjoyed an excellent partnership with BlackRock since 2021 and during this period has continued to build a world class fleet of modern LNG carriers serving some of the world’s leading energy players. We are delighted to welcome GIC as our new partner,” Livanos said in an announcement.