Five further vessels are expected to be delivered within the next five months, and all eight vessels are expected to be delivered by May 2020.
The vessel will commence a 3-year index-linked time-charter with Koch Supply & Trading upon sailing from the shipyard.
The time charter equivalent dayrate at commencement will be approximately USD 35,000 reflecting a healthy capesize market as well as a solid premium to a standard capesize as a function of higher cargo intake and lower consumption. The rates for Bulk Sandefjord will be market adjusted on a bi-weekly basis. Cash break even for the vessel is estimated at USD 14,500 per day.
Source: 2020 Bulkers