Dry bulk owner 2020 Bulkers, with offices in Bermuda and Norway, has amended and extended the index-linked time charters for “Bulk Sandefjord”, “Bulk Santiago”, “Bulk Shenzhen” and “Bulk Sydney” with the charterers Koch Shipping until the end of 2026, with options for further 12 months time charter.

The four vessels are Newcastlemax types, and the company states that the charters reflect a significant premium to a standard capesize vessel, as well as an additional premium related to the fuel cost saving from the scrubbers.

Magnus Halvorsen, chairman of 2020 Bulkers, said that “We are very pleased with the long-term contract extensions for four of our vessels, which is a testament to our strong relationship with Koch Shipping, as well as the vessels high quality and performance.”

2020 Bulkers has in total eight newcastlemax dry bulk vessels built during 2019-2020 in operation and all vessels are fitted with exhaust scrubber systems.