2020 Bulkers ditches dry bulk for offshore as CEO exits in $407m pivot
Norwegian owner appoints Tom Babinski as CEO after selling last dry bulk vessels and acquiring 12 AHTS units for $407m.
Oslo-based 2020 Bulkers has named Tom Babinski as its new chief executive, completing a leadership transition as the company shifts from dry bulk shipping to anchor-handling tug supply (AHTS) operations. The appointment follows the immediate resignation of Lars-Christian Svensen, who led the company through its exit from dry bulk and the acquisition of its initial offshore fleet.
The company recently completed the acquisition of 11 large AHTS vessels through its purchase of AHTS AS and stakes in four related vessel-owning companies. This month, 2020 Bulkers added another vessel to its fleet by acquiring Anchor Australia, which included the Skandi Peregrino from Akastor’s DDW Offshore for $21.6 million. With three more vessels expected to join the fleet by year-end, the company could soon operate 15 AHTS units.
Fleet expansion drives strategic shift: Bulkers
The expansion was financed through a $175 million private placement in September, supporting transactions valued at approximately $407 million. This marks a significant departure from the company’s origins, which centered on eight scrubber-equipped newcastlemax vessels ordered at an average cost of $47.6 million each. Earlier this year, 2020 Bulkers sold its remaining six dry bulk ships, returning roughly $316 million to shareholders in April.
Safe Bulkers
Babinski, previously positioned to lead the newly acquired AHTS AS business, brings extensive offshore experience from roles at Aurora Offshore Management, Viking Supply Ships, Westshore Shipbrokers, Framar, and Sevnor. His appointment aligns leadership with the company’s new strategic direction in offshore services.
New leadership for offshore focus
Svensen, who joined as CEO in April 2025, previously held executive positions at Golden Ocean, Himalaya Shipping, and tanker investment firm Bruton. His departure comes as 2020 Bulkers prepares to rebrand as AHTS and prioritize shareholder returns from its offshore operations.
The company’s transformation has drawn support from prominent Norwegian investors, including Harald Moræus-Hanssen’s Uthalden, Arne Blystad’s Songa Capital, chairman Magnus Halvorsen’s MH Capital, and Tor Olav Trøim’s Drew Holding. With its fleet expansion nearly complete, 2020 Bulkers is now positioned to focus on consolidating its presence in the large anchor-handler market.
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