Bulk Shanghai Joins 2020 Bulkers

Norway-based dry bulk shipping company 2020 Bulkers has taken delivery of Bulk Shanghai, the fourth of eight 208,000 dwt Newcastlemax newbuilds.

The 300-meter-long bulker, which commenced a 13-year bareboat charter with 2020 Bulkers, is owned by Norwegian shipping company Ocean Yield.

Two further vessels are expected to be delivered by January 2020, and the remaining two vessels are expected to be delivered by May 2020.

The vessel will on November 9, 2019, commence a 11-13 month index-linked timecharter with ST Shipping, a 100% owned subsidiary of Glencore.

Starting January 1, 2020, the vessel will also earn an additional premium related to the fuel cost saving from the scrubber.

2020 Bulkers has four vessels in operation and four Newcastlemax drybulk vessels under construction at New Times Shipyard in China. All vessels will be fitted with exhaust scrubber systems. The remaining newbuildings are expected to be delivered by May 2020.

Ocean Yield ASA is a ship owning company with investments in vessels on long-term charters.