2020 Bulkers Ltd. (2020) - Extended time charters for Bulk Santiago and Bulk Seoul

15 Nov 2019

2020 Bulkers is pleased to announce that the time charters with Koch Supply and Trading for Bulk Santiago and Bulk Seoul have each been extended by 11-13 months at an index linked rate reflecting a significant premium to the Baltic 5TC index.

The time charters also include a sharing of the economic benefit from the scrubbers from January 1st, 2020, with the majority of the benefit accruing to 2020 Bulkers.

As part of the agreement, the index linked time charters will commence on December 25th, 2020, for Bulk Santiago and January 1st, 2021, for Bulk Seoul, implying 130 days reduction in the maximum optional periods under the existing fixed rate time charters.

About 2020 Bulkers Ltd.:
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.

2020 Bulkers Limited press release