2020 Bulkers Fixes 3 Bulkers with Koch

Norwegian shipowner 2020 Bulkers has reached time charter agreements for three of its newbuildings with Koch Supply & Trading, a subsidiary of Koch Industries.

Bulk Sandefjord has secured a new 36 months time-charter at an index-linked rate, reflecting a premium to the Baltic 5TC index.

The time-charter also includes a profit-sharing of any economic benefit derived from operating the vessel´s scrubber. The 36 months time-charter replaces the previous 12-15 months time-charter at a TCE rate of USD 19,525 per day, gross.

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.

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 time-charters will commence directly after delivery of the newbuildings from New Times Shipyard.