2020 Bulkers Ltd. (2020) Conversion of index-linked charter hire for Bulk Sandefjord and Bulk Sydney
Hamilton, Bermuda, May 6, 2020 2020 Bulkers has converted the index-linked charter hire for Bulk Sandefjord and Bulk Sydney to fixed rate charter hire from June to December 2020 at US$14,378 per day, gross, and US$14,702 per day, gross, respectively. The vessels will in addition earn a profit share based on the fuel cost saving generated by the scrubbers. Following the conversion, the six vessels in operation today have fixed rate charter coverage for 1,384 days remaining in 2020 at a weighted average rate of US$19,303 per day. The fixed charter hire coverage covers all budgeted G&A,