Tor Olav Trøim is getting back into dry bulk, saying he sees similarities between today’s market and the supercycle days of 2003 to 2008.

Trøim is creating Himalaya, a dry bulk owning vehicle which has an initial outlay of $800m to order 12 newbuildings, according to Oslo-based newspaper Finansavisen.

“This is very reminiscent of the structural upswing we saw in shipping between 2003 and 2008,” Trøim told Finansavisen, discussing the current supply and demand situation in dry cargo .

Trøim said the Himalaya name had been chosen because the bulk market looks very exciting now.

Trøim chairs Golar LNG and is a director at Borr Drilling. Previous exposure to dry bulk came via Golden Ocean and his many years working with John Fredriksen after which he went on to found 2020 Bulkers.