Trøim sets sights on dry bulk with launch of 2020 Bulkers

Trøim sets sights on dry bulk with launch of 2020 Bulkers

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.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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