2020 Bulkers Ltd. (2020) – Time charter agreements for Bulk Sao Paulo and Bulk Santos
Hamilton, Bermuda, May 15, 2020 2020 Bulkers has entered into time charter agreements for Bulk Sao Paulo and Bulk Santos with a 100% owned subsidiary of Glencore. The vessels will commence their respective 35-37 month time charters upon delivery from New Times Shipyard in early June 2020, and will earn an index-linked rate, reflecting a significant premium to the Baltic 5TC index. The time charters also include a profit sharing of any economic benefit derived from operating the vessels scrubbers, as well as certain rights to convert the time charters to fixed rates on the basis of the