2020 Bulkers Adds Sixth Newbuild with 3-Year Charter

Norwegian shipowner and operator 2020 Bulkers has accepted delivery of Bulk Sydney, the sixth of eight 208,000 dwt Newcastlemax newbuilds.

The 224,100 cbm Capesize bulker was handed over to the company by China’s New Times Shipbuilding.

The Liberia-flagged vessel will on January 23, 2020, commence a three-year index-linked time charter with Koch Shipping.

As explained, the index-linked rate reflects a significant premium to a standard Capesize as a function of higher cargo intake and lower fuel consumption. The vessel will also earn an additional premium related to the fuel cost saving from the scrubber.

2020 Bulkers has six vessels in operation and two Newcastlemax dry bulk vessels under construction at the abovementioned Chinese shipyard. All vessels will be fitted with exhaust scrubber systems. The remaining units are expected to be delivered by May 2020.

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