Giant New York-based asset manager BlackRock has fattened its stake in yet another shipping stock, piling on shares of Ireland-based product tanker owner Ardmore Shipping.
Larry Fink-led BlackRock now owns 3.54m shares, or 8.7% of Ardmore. The position vaults the firm, the world’s largest asset manager, to the top rung of shareholders in the company.
BlackRock had held just 496,000 shares, or 1.5%, at its last public ownership filing in July 2021. It also was not among the top three holders when Ardmore filed its annual report in March 2022.
