2020 Bulkers announced earlier today that the time charters with Koch Supply and Trading for Bulk Santiago and Bulk Seoul have each been extended by 11-13 months at an index-linked rate reflecting a significant premium to the Baltic 5TC index. 

2020 Bulkers Ltd. announces extended time charters for Bulk Santiago and Bulk Seoul

The time charters also include a sharing of the economic benefit from the scrubbers from January 1st, 2020, with the majority of the benefit accruing to 2020 Bulkers.

As part of the agreement, the index linked time charters will commence on December 25th, 2020, for Bulk Santiago and January 1st, 2021, for Bulk Seoul, implying 130 days reduction in the maximum optional periods under the existing fixed rate time charters.

Source: 2020 Bulkers