In 1922, when Olof Wallenius was 20 years old, he started a wholesale company. Early on, he had proven to have an astute business mind and as such left school before graduating, preferring to concentrate on his business ideas. In a short time, he established an extensive trade in empty oil barrels. Later, when he decided to start an export company for vegetable oils, he filled those empty oil barrels. Eventually, Olof became an agent for AB Karlshamns Oljefabriker, which manufactured soya oil, and soon realised he could transport larger quantities of oil on board a coastal tanker than in oil barrels on trucks. As a result, in 1934 he bought a vessel, named it m/s SOYA and in conjunction with this established a shipping company, which he named Rederi AB Soya.
The rest, as they say, is history.