Earlier we saw Warren Buffet upping his stake in Chevron as well as adding Occidental Petroleum to Berkshire's portfolio and now this.
Buy hydrocarbons, number go up.
From Bloomberg via The Edge Markets, April 28:
Billionaire John Fredriksen snapped up a 16% stake in International Seaways Inc, the latest major tanker investment by the shipping magnate.
The move was disclosed by one of his holding companies, Famatown Finance Ltd, through which he usually makes his acquisitions. International Seaways owns a fleet of 87 ships that include giant supertankers and vessels that haul refined products.
Fredriksen has been active in recent months, buying up a stake in tanker giant Euronav NV before proposing that it merge with Frontline Ltd, in which another of his holding companies is the largest shareholder....
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