Fearnley Securities has taken up coverage of Tor Olav Troim’s 2020 Bulkers with a buy rating, suggesting the project offers the best of both worlds.

Troim launched 2020 Bulkers last year and has built up an orderbook of eight newcastlemax bulkers at New Times in China.

Espen Landmark Fjermestad and Peder Nicolai Jarlsby of Fearnley Securities believe the shipowner is set to benefit from both asset price rises and the introduction of new emissions laws at the start of 2020.