Guggenheim Capital has emerged as the mystery North American owner behind a contract for two 300,000-dwt VLCC newbuildings at South Korea’s DSME.

DSME announced the order earlier this month without disclosing the buyer of the pair of tankers, which cost a total of $176.8m and will be delivered in the first quarter of 2020.

TradeWinds has been told Guggenheim has ordered the ships on a speculative basis and the outfit is part of a trend of investment funds buying into the tanker newbuilding market.