Norwegian executive Tor Svelland is understood to be in the process of securing his debut shipowning deal with a potential $250m-plus newbuilding project in China.
A transaction for up to six capesize newbuildings is believed to be in the works at leading private yard Yangzijiang Shipbuilding, market sources tell TradeWinds.
Svelland, who established Svelland Bulk after leaving trader Trafigura last year, is working on a contract for three or four firm vessels in a deal that is thought to include options bringing the overall order to six.
