2020 Bulkers secures charter contracts from Koch

2020 Bulkers secures charter contracts from Koch

Tor Olav Trøim’s 2020 Bulkers has entered into chartering agreements with Koch Supply & Trading for three of the company’s newbuildings.

Bulk Sandefjord has secured a new 36-month time charter at an index linked rate. The time charter includes a profit sharing of any economic benefit derived from operating the vessel’s scrubber. The 36-month time charter replaces the previous 12 to 15-month time charter at a TCE rate of $19,525 per day.

Bulk Santiago will serve the charter party originally entered into for Bulk Sandefjord for 12-15 months employment at a fixed rate of $19,525 per day.

Additionally, Bulk Seoul will serve the charter party originally entered into for Bulk Santiago for 12-16 months employment at a fixed rate of $22,250 per day.

All three charter contracts will commence directly after delivery of the newbuildings from New Times Shipyard.

2020 Bulkers has eight newcastlemax drybulk vessels under construction at New Times Shipyard in China. All vessels will be fitted with scrubbers. The first ship is expected to deliver in August and all ships are expected to be delivered by May 2020.

2020 Bulkers lists on Oslo Axess today.

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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