2020 Bulkers Ltd. (2020) – Extended time charter for Bulk Shanghai
Hamilton, Bermuda, 18 September 2020,
2020 Bulkers has extended the time charter for Bulk Shanghai with ST Shipping, a fully owned subsidiary of Glencore for a period of 6-8 months from 4 October 2020. The vessel will from 4 October 2020 earn a fixed rate of USD 18,000 per day, gross, as well as share of the fuel savings generated from the scrubber.
Magnus Halvorsen, CEO of 2020 Bulkers Management AS says: “We are pleased to further develop our good relationship with Glencore. The extended time charter for Bulk Shanghai secures cash flow through the first quarter of 2021 at a level above our average operating cash breakeven which is estimated at approximately USD 14,000 per day for 2021”.
For further queries, please contact:
Magnus Halvorsen, Chief Executive Officer, 2020 Bulkers Management AS
Telephone +47 920 20 111
About 2020 Bulkers Ltd.:
2020 Bulkers has eight Newcastlemax dry bulk vessels in operation. All vessels are fitted with exhaust scrubber systems.
Forward-Looking Statements
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The information, opinions and forward-looking statements contained in this announcement speak only as of the date hereof and are subject to change without notice.