2020 Bulkers locks away four newcastlemaxes with Koch extension deals

Norway’s 2020 Bulkers has secured charter extensions from Singapore’s Koch Shipping on four of its newcastlemax bulk carriers.

The 208,400-dwt Bulk Santiago, Bulk Sandefjord (both built 2019), Bulk Shenzhen and Bulk Sydney (both built 2020) will remain on charter to the shipping arm of commodities giant Koch Supply & Trading until the end of 2026 with options for a further 12-month extension.

“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,” said Magnus Halvorsen, chairman of 2020 Bulkers.

The ships will earn an index-linked rate, reflecting a “significant premium” to a standard capesize vessel and a premium related to the fuel cost savings from the scrubbers.

The Tor Olav Trøim-backed company owns eight scrubber-fitted newcastlemaxes built between 2019 and 2020, six of which are fixed to Koch.

Yangzijiang Shipbuilding

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