Dry CargoEurope

2020 Bulkers switches newcastlemax pair to fixed deals and seals charter extensions

Norway’s 2020 Bulkers has switched a pair of its newcastlemax bulk carriers from index-linked charter to Koch Shipping into a fixed-rate hire and sealed charter extensions for up to 13 months.

The Oslo-listed owner’s 2019-built Bulk Santiago and 2020-built Bulk Shenzhen have been fixed for Q1 2023 at $16,500 per day, including scrubber benefits. Bulk Shenzhen was earlier agreed to move from its $32,378 per day fixture to an index-linked charter on January 1.

After the fixed-rate charter period, the ships will continue on an eight- to 13-month charter earning an index-linked rate, which 2020 Bulkers did not disclose but said reflected “a significant premium to a standard capesize vessel”. Both ships will also continue to earn a premium related to the fuel cost savings from the scrubbers.

The Tor Olav Trøim-backed owner has four out of eight vessels fixed at an average rate of US$17,069 for Q1 next year, as well as a floating scrubber benefit for one vessel. In October, the 2019-built Bulk Sandefjord was fixed to Koch at $14,392 per day plus a $4,500 scrubber benefit until March 31, 2023.

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.
Back to top button