Cleaves Securities believes Tor Olav Troim's bulker start-up Himalaya Shipping has timed its newbuildings just right.
The company's 12 newcastlemaxes will hit the water in 2023 and 2024 from New Times Shipbuilding in China.
The Norwegian investment bank's senior analyst, Peter Michael Christensen, said 50% of these 208,000-dwt dual-fuel bulkers will come in 2023, "potentially coinciding with the cyclical peak".
