2020 Bulkers Ltd. (2020) - Conversion of index-linked charter hire for Bulk Shenzhen
Hamilton, Bermuda, January 28, 2022 2020 Bulkers has converted the index-linked charter for Bulk Shenzhen into fixed rate charter at US$32,378 per day, gross, for the period from February 1, 2022, until December 31, 2022. In addition, the vessel will still earn a premium related to the fuel cost savings from the scrubbers. Following the fixed rate conversions of Bulk Shenzhen and Bulk Shanghai, the Company estimates the six vessels trading on index-linked charters, based on current scrubber economics, will need to earn US$8,800 per vessel per day to cover the Company’s cash breakeven