Dry CargoEurope

2020 Bulkers newcastlemax charters with Koch extended

Tor Olav Trøim’s 2020 Bulkers has announced that it has sealed extended charter contracts with Koch Supply and Trading for two of its newbuild newcastlemax bulkers, Bulk Santiago and Bulk Seoul.

The contracts for the two vessels have each been extended by 11-13 months at an index linked rate.

The time charters also include a sharing of the economic benefit from the scrubbers from January 1, 2020, with the majority of the benefit accruing to 2020 Bulkers.

Under the agreement, the time charters will commence on December 25, 2020, for Bulk Santiago and January 1, 2021, for Bulk Seoul, representing 130 days reduction in the maximum optional periods under the existing fixed rate time charters.

2020 Bulkers currently has four vessels in operation and four newcastlemax bulkers under construction at New Times Shipyard in China.

At the end of October, 2020 Bulkers entered into a time charter agreement for Bulk Shenzhen with Glencore.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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