Tor Olav Trøim’s 2020 Bulkers has entered into a time charter agreement for newcastlemax newbuilding Bulk Shenzhen with a subsidiary of Glencore.
Earlier this month, the company secured charter contract from Glencore for another newcastlemax newbuilding Bulk Shanghai.
The vessel will commence a 11 to 13 month time charter upon delivery from New Times Shipyard in early January 2020. The time charter also includes a profit sharing of any economic benefit derived from operating the vessel’s scrubber.
Currently, two of the company’s eight bulker newbuldings have been delivered, and all the ships are expected to be delivered by May 2020.