Oaktree Capital Management has bumped up its stake in product tanker player Torm to just over 70% this week.
Torm disclosed on Friday that the Los Angeles-based private equity outfit now owns 52.6m shares or 70.3% of the company, up from 69.2%.
Oaktree's position in the Danish shipowner fuelled speculation earlier in the year that it could be mounting a takeover bid for Ardmore Shipping Corp by taking a stake in the Irish company.
