Goldman Sachs appears to have broadened its shipping interests by revealing holdings in John Fredriksen’s Frontline and seismic survey player Magseis Fairfield. Filings made to the Oslo stock exchange state that the US investment banking behemoth now has 5.26% of the tanker company, with 271.7m shares worth $139m. Goldman Sachs also controls 11.29% of Magseis Fairfield, giving it a holding worth $27m.

The disclosures were classed as a “newly disclosable position” because of changes to the European Union’s substantial shareholding rules relating to transparency on 1 September. But the filings do not necessarily mean the investment bank controls the shares. In March, the group made a similar filing about passing the 5% threshold in Oslo-listed MPC Container Ships, but it later emerged that this stake was being held on behalf of other unnamed investors. Frontline and Goldman Sachs have been contacted for comment.

The Frontline holding would make Goldman Sachs the third-biggest investor behind Norwegian pension fund Folketrygdfondet (5.28%) and ahead of BlackRock (2.67%). Fredriksen himself controls about 36%. Frontline’s shares closed +2% at $11.92 in New York on Friday and were up nearly 1% at NOK 119.70 ($11.90) in Oslo on Monday.

Frontline and Magseis Fairfield have announced major tie-ups with rivals this year. The tanker company is trying to push through a merger with Belgium’s Euronav, while the offshore player announced the creation of a seismic survey giant through its takeover by ship charterer TGS.

The Oslo-listed seismic operations are coming together to form a company with a market cap of more than $1.7bn. Magseis Fairfield operates remote vehicles from ships to collect ocean bottom node data. It also owns the 65-loa seismic survey vessel Fairfield Endeavor (built 1977).

Goldman Sachs’ shipping investments include a 29% position reported in Evangelos Marinakis-backed Capital Product Partners and nearly 5% in Norway’s Klaveness Combination Carriers.

In 2021, class society Lloyd’s Register agreed to sell its business assurance and cyber security division to Goldman Sachs Asset Management for more than $100m.