Two leading Norwegian shipping bosses have bought shares in their companies for the first time.
Lasse Kristoffersen, chief executive of Wallenius Wilhelmsen, and his successor in the top job at Torvald Klaveness — Ernst Meyer — now have skin in the game.
Oslo bourse filings showed Kristoffersen acquired 5,000 shares at NOK 66 each on Thursday for a total outlay of NOK 330,000 ($30,000).
The company told TradeWinds that this was his first purchase of the stock.
Wallenius Wilhelmsen has been posting huge record profits in booming car carriers markets.
However, the share price has fallen from NOK 100 over the last six months.
Meyer, meanwhile, has acquired 3,000 shares in Oslo-listed Torvald Klaveness spin-off Klaveness Combination Carriers (KCC),
The executive is the chief executive of Torvald Klaveness and chairs KCC.
He paid NOK 69 per share and did not own any KCC stock beforehand.
Big earnings
The company was trading at NOK 70 in Oslo on Friday. Despite some peaks, the share is now little changed from its NOK 68 level a year ago.
KCC is also making record amounts of money through its ships that can carry tanker and bulker cargoes.
Kristoffersen took over at the car carrier owner in June last year, leaving Torvald Klaveness after 15 years.
He was succeeded in the top job by Meyer.
Wallenius Wilhelmsen reported a $173m profit for the first three months of 2023 on the back of $1.25bn in revenue and Ebitda of $398m, its third-highest ever.
KCC said net profit in the first quarter was a record $28.2m, up from $7.3m a year earlier.
Revenue grew to $55.3m from $30.1m.
