Tor Olav Trøim, once John Fredriksen’s right hand man, has created a dry bulk vehicle, placing orders for newcastlemaxes in China and seeking to raise cash at the Oslo OTC market.
2020 Bulkers has ordered two firm 208,000 dwt ships at New Times Shipbuilding and has another six on option, according to Norwegian newspaper Finansavisen. The firm ships are delivering in the second half of 2019 and are costing just $44.5m each.
Among 2020 Bulkers founding investors are also another pair of former Fredriksen high-fliers, Fredrik Halvorsen and Espen Westeren, who have come in for the new company via their Titan Opportunities Fund.
Trøim and Fredriksen parted ways in acrimonious fashion a number of years ago. Since then, Trøim has set about creating his own new shipping and offshore businesses, notably Borr Drilling, a very aggressive new rig outfit.