2020 Bulkers prepares for listing

2020 Bulkers prepares for listing

Tor Olav Trøim’s 2020 Bulkers has put its management team in place and finalised financing for its newbuildings in preparation for a listing of the company.

Providing a status report on Friday, 2020 Bulkers said that it has appointed executive chairman Magnus Halvorsen to the role of CEO and Vidar Hasund as CFO, effective January 1.

The company also released that the board decided last week it will list on a recognised stock exchange, and it has also signed a term-sheet for long-term bank financing for $240m to be used for the post-delivery financing of its newbuilding program.

2020 Bulkers has eight newbuild newcastlemax dry bulk vessels with scrubbers on order at China’s New Times Shipyard, with deliveries expected to commence at the end of this year.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

Related Posts