Tor Olav Troim (TOT) venture into VLCC shipping (Bruton) has expanded with the addition of four newbuild orders from CIMC Raffles. Also mentioned, former FRO CEO Jens Martin Jensen has joined the Bruton board.
Edit - with the addition of 4 VLCC newbuilds, the count is 12. Right now, it comes down to timing. Current tanker rates for clean and dirty tankers are currently quite high, across the board. Focusing on VLCC, since that’s the only size relevant for Bruton, rates are high for both spot market and for 1-year TC cases (multiple cases involving FRO & DHT above $90K daily). Bruton has one VLCC delivering in mid 2026 (July 2026). Will the market conditions still support great VLCC rates? I suspect JF is doing some additional planning (likely on the private side)