2020 Bulkers has entered into a 19-23 month time charter agreement for Bulk Shenzhen with Koch Shipping, commencing later in April upon completion of the ongoing voyage charter.
The vessel will earn an index-linked rate, reflecting a significant premium to the Baltic 5TC index.
The time charter also includes a profit sharing of any economic benefit derived from operating the vessels scrubbers, as well as certain rights to convert the time charter to fixed rate on the basis of the prevailing FFA curve from time to time.
Source: 2020 Bulkers