Tor Olav Troim’s Magni Partners has recruited Oystein Vaagen from Fearnley Securities.

Vaagen will work with the development of new and existing projects, Norwegian business daily Finansavisen reported.

He will start in June and will be based in London.

Since July 2019, Vaagen has worked with equity research at Fearnley Securities.

In 2022, he became a partner at the Norwegian broker, according to LinkedIn.

He has covered the listed shipping companies in Oslo and New York for Fearnleys.

Fearnley Securities remaining shipping analyst Fredrik Dybwad told TradeWinds he will cover all the companies from now on.

Magni Partners has holdings in 2020 Bulkers, Borr Drilling, Golar LNG, Himalaya Shipping and new VLCC venture Andes Shipping.

The companies are listed in Oslo or New York, except Andes Shipping.

Andes has ordered four VLCCs from New Times Shipbuilding in China

All four tankers are due to be delivered in 2026 and 2027.

2020 Bulkers reported its first-quarter results last week.

The Oslo-listed bulker owner reported a net profit before tax of $28.5m for the quarter, up from $800,000 a year earlier.

First-quarter operating revenue grew to $40.5m from $12.6m year on year due to an unusually strong capesize market in early 2024.

Himalaya Shipping will publish its first-quarter report next week on 23 May.

Golar LNG will release the report for the first quarter on 28 May.