Tor Olav Trøim’s private investment vehicle Magni Partners has doubled its VLCCs order from China-based New Times Shipbuilding with two new 320,000 dwt vessels.
Trøim told delegates at the Marine Money’s New York conference last year that he was returning to the tanker business after a 15-year absence.
At the time, he told attendees that he would be getting his feet “a little wet” with just two 320,000 dwt VLCC which were also ordered from New Times. The vessels are set to be delivered from China in August and November of 2026. Trøim did agree on options for up to four more vessels.
The third and fourth VLCC newbuilds will be delivered from New Times in the second half of 2027. The contracts have been entered under the auspices of two newly established companies, Andes Shipping and Andes Shipping II. Trøim did confirm this latest VLCCs duo order to Norwegian media outlets.
The two newly ordered ships will be equipped with dual-fuel engines which can run on LNG and bunker oil. The price for the first two tankers is stated to be $135m per ship while the price for the third and fourth ships was agreed at around $117m. An additional $19m is added for the dual-fuel solution.