Dan Gold-led QVT Financial has added to its stake in Greece's Okeanis Eco Tankers in a $1.4m deal.
US-based QVT Financial, a Gold-founded financial firm, bought more than 229,000 shares at a price of NOK 55.03. He bought another 22,100 shares at NOK 55.54, the Oslo-listed VLCC and suezmax specialist said.
The purchases total NOK 13.4m ($1.4m).
QVT now has 2.44m shares, which is a stake of 7.44%.
Okeanis was trading at NOK 55.40 in Oslo on Friday morning.
Gold, a Harvard graduate who sits on the board of Okeanis, is a well-known investor in shipping circles. His QVT focuses on managing capital of company principals like Gold and a small circle of private investors.
The company snapped up 400,000 shares last year to become Okeanis' second-biggest investor with 6.34%.
Gold's shipping holdings
In 2017, QVT was reported to have a 6% stake in Saverys family company Hunter Maritime Acquisition, and the investor had 16% of Aurora LPG before its takeover by BW LPG.
In 2019, members of the controlling Alafouzos family increased their stakes in Okeanis.
CEO and chairman Ioannis Alafouzos bought another 18,000 shares at NOK 98 each in a deal worth $193,000, the company said. At that point he owned 1.59%.
And Sea Shell Enterprises, controlled by his brother Themistoklis Alafouzos, snapped up 45,000 shares at the same price, bringing its holding to 1.69%.
Entities controlled by members of the Alafouzos family control nearly 57% of Okeanis.
Last week, Okeanis management made their case for a tightening market in 2022, as it called the low newbuilding orderbook "perhaps the most bullish in tanker history".
