Tor Olav Trøim has raised $30m for his new dry bulk vehicle, Himalaya Shipping. The funds have been sourced from Norwegian and international investors and will be spent on the first shipyard payments, according to Norwegian business daily Finansavisen.

Trøim, the chair of Golar LNG, revealed he was getting back into dry bulk, last month saying he sees similarities between today’s market and the supercycle days of 2003 to 2008. Trøim is creating Himalaya Shipping, a dry bulk owning vehicle which has an initial outlay of $800m, ordering 12 LNG-fuelled newcastlemaxes in China.

Troim’s 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.