Tor Olav Troim’s 2020 Bulkers has raised $10m from key shareholders to help fund its existing newbuildings.
Further additions to its backlog of eight newcastlemaxes are, however, unlikely, TradeWinds is told.
Oslo over the counter listed 2020 Bulkers issued two million new shares at $5 each last week to meet installment payments on the vessels at New Times shipyard in China.
