Tor Olav Trøim’s new supertanker venture has listed its shares for trading on Euronext Growth Oslo.
The company called Bruton is sponsored by Trøim’s Magni Partners and currently has two 299,500 dwt VLCCs under construction at New Times Shipyard in China, via subsidiary Andes Tankers, scheduled for delivery in September 2026 and February 2027.
Bruton is headed up by former John Fredriksen lieutenant Gunnar Eliassen, who worked as an investment director at Seatankers from 2016 to 2023 and served on the boards of several well-known offshore drillers including Seadrill.
Troim’s Drew Holdings owns just under 50% of Bruton through one of his investment companies Drew Holdings, while Richard Fulford-Smith-led UK shipbroker Affinity (Shipholdings) holds about 12% and Magnus Halvorsen’s MH Capital is listed with 8.8%.
Trøim is otherwise present in Oslo with the shipping companies 2020 Bulkers and Himalaya Shipping, while his offshore driller Borr is exiting the trade at the end of this year to focus on the New York listing.
The reason for the listing in Oslo is to be able to raise capital in a faster and more efficient way when new investment opportunities arise within different sectors such as offshore or shipping, Eliassen told Norwegian media outlets.
Bruton’s board is chaired by Bjørn Isaksen, who is also the chairman of Himalaya Shipping. The other two board members are Mi Hong Yoon, a director at Borr Drilling and Himalaya, and Borr chief executive Patrick Schorn.
Trøim revealed his return to the tanker business after a 15-year absence at the Marine Money’s New York conference last year with a pair of VLCC newbuilds at New Times costing around $135m and delivery in August and November of 2026. The bet was doubled this year through Bruton-controlled Andes Tankers at a similar cost. Alike his newbuild bulkers, the VLCCs will sport LNG dual-fuel engines.
