2020 Bulkers Ltd. Chartering update (2020)

This post was originally published on this site

Thu, Jul 11, 2019 18:58 CET

Hamilton, Bermuda, 11 July 2019,

2020 Bulkers has today entered into the following chartering agreements with Koch Supply & Trading, a subsidiary of Koch Industries.

  1. Bulk Sandefjord has secured a new 36 months timecharter at an index linked rate, reflecting a premium to the Baltic 5TC index. The timecharter also includes a profit sharing of any economic benefit derived from operating the vessel´s scrubber. The 36 months timecharter replaces the previous 12-15 months timecharter at a TCE rate of USD 19,525 per day, gross.
  1. Bulk Santiago will serve the charter party originally entered into for Bulk Sandefjord for 12-15 months employment at a fixed rate of USD 19,525 per day, gross.
  1. Bulk Seoul will serve the charter party originally entered into for Bulk Santiago for 12-16 months employment at a fixed rate of USD 22,250 per day, gross.

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

For further queries, please contact:

Magnus Halvorsen, Chief Executive Officer,

Telephone +47 920 20 111

About 2020 Bulkers Ltd.:

2020 Bulkers has 8 Newcastlemax drybulk vessels under construction at New Times Shipyard in China. All vessels will be fitted with exhaust scrubber systems. The first ship is expected to deliver on August 7th and all ships are expected to be delivered by May 2020.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Recommended For You

mm

About the Author: Sidney Martin

Sidney Marin Is a researcher and law student at York University (TORONTO). He has worked as the Director of the Graduate Lawyering Program. He worked for American law firms in Moscow, Russia for three years. Hegraduated from Columbia Law School, Columbia School of International and Public Affairs and Harvard College. He research interest is in human rights and health law, with a particular focus on the law and policy of vaccination.