2020 Bulkers Ltd. says it has entered into the following chartering agreements with Koch Supply & Trading, a subsidiary of Koch Industries:
1) Bulk Sandefjord has secured a new 36 months timecharter at an index linked rate, reflecting a premium to the Baltic 5TC index. The timecharter also includes a profit sharing of any economic benefit derived from operating the vessel´s scrubber. The 36 months timecharter replaces the previous 12-15 months timecharter at a TCE rate of USD 19,525 per day, gross.
2) Bulk Santiago will serve the charter party originally entered into for Bulk Sandefjord for 12-15 months employment at a fixed rate of USD 19,525 per day, gross.
3) Bulk Seoul will serve the charter party originally entered into for Bulk Santiago for 12-16 months employment at a fixed rate of USD 22,250 per day, gross.
All three timecharters will commence directly after delivery of the newbuildings from New Times Shipyard.
About 2020 Bulkers
2020 Bulkers Ltd. is an independent dry bulk shipping company that owns and operates eight scrubber fitted 208,000 DWT Newcastlemax dry bulk carriers. The Bermuda registered, Oslo, Norway based Company has 8 Newcastlemax drybulk vessels under construction at New Times Shipyard in China. All vessels will be fitted with exhaust scrubber systems. The first ship is expected to deliver on August 7th and all ships are expected to be delivered by May 2020.