Himalaya Shipping, the private bulker-owning company founded by Tor Olav Troim, has raised $30m in a private placement of shares in Oslo.

Funds raised in the transaction will finance part of the equity instalments on Himalaya's newbuilding program of LNG-fuelled newcastlemaxes.

That is according to Fearnley Securities, which acted as joint global coordinator and bookrunner in the placement.

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Himalaya has ordered up to 12 LNG-fuelled newcastlemaxes at New Times Shipbuilding in China.