Lars-Christian Svensen will run Tor Olav Troim’s 2020 Bulkers and Himalaya Shipping after leaving John Fredriksen’s Golden Ocean Group at the end of May.

The Oslo-listed newcastlemax companies said Svensen will eventually take over as chief executive after Herman Billung retires in 2025.

Svensen will join as chief commercial officer at both owners on 1 September.