Shipping king and Norway’s richest man, John Frederiksen, recently increased his exposure significantly in Edda Wind. According to shareholder data obtained from Holdings, Fredriksen has bought more than NOK 50 million worth of shares since the end of June.
Frederiksen is the third largest shareholder in the company with an ownership stake of over NOK 533 million. The only people with more shares in the Haugesund-based company are Wilh. Wilhelmsen Holding and Ship Owner Johannes Østensjø via Østensjø Wind.
Norway’s richest man buys into service ships and services for the global wind industry Edda Wind ships out with technicians to provide service for wind turbines. The company is mainly engaged in European wind farms and is the only “net” player in the offshore wind service.
The need for special ships
The rapid expansion of the number of offshore wind farms has created a need for private vessels that act as mother ships for development and maintenance services on wind farms, either in connection with the completion or during maintenance of wind turbines throughout the life of the farms.
Currently, Edda Wind has two private ships in operation, but it is facing significant investment. They have ordered and secured financing for nine more vessels for use in the offshore wind market.
Besides Edda Wind, Fredriksen has also been buying heavily in Swedish real estate company Fabege recently. According to Holdings shareholder data, the investor is the second largest owner with just over 10 percent of the shares valued at $2.7 billion. His entry into Fabege makes the position his sixth largest investment through Geveran Trading.
Greater Maui
The largest positions for an investor according to holdings is Mowi at NOK 12.8 billion, followed by Frontline at NOK 12.2 billion. Flex LNG, Golden Ocean Group and Avance Gas occupy the next positions with values of NOK 7.5 billion, NOK 6 billion and NOK 5 billion, respectively.
Frederiksen is also the largest owner in Norway, finding success as a major shareholder through restructuring. The center is its seventh largest site with a value of NOK 1.2 billion.
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