Dry CargoEurope

2020 Bulkers converts newcastlemax to fixed-rate charter

Norway’s 2020 Bulkers has converted an index-linked charter of one of its newcastlemax vessels to Koch Shipping into a fixed-rate hire.

The Oslo-listed owner’s 2019-built Bulk Shanghai has been fixed at $30,905 per day from next month until the end of this year. The rate has been significantly reduced compared to the previous deal, which ran from September 1, 2021, until December 31, 2021, when the same ship was fixed at $54,000 per day. The newcastlemax owner added the vessel will still earn a premium related to the fuel cost savings from the scrubbers. 

The Magnus Halvorsen-led 2020 Bulkers has a fleet of eight ships. The company is set for a leadership change in February when Herman Billung from Star Bulk Carriers takes the helm.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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