2020 Bulkers on Wednesday (Mar03) converted the index-linked charter hire for Bulk Sao Paulo and Bulk Santos into a fixed rate charter hire at US$27,200 per day, gross, from 4 March 2021 until 31 December 2021. In addition, both vessels will earn a premium related to the fuel cost savings from the scrubbers.
Following the charter conversion for the two vessels, the Company estimates that the remaining six vessels for Q2-Q4 2021 will need to earn approximately US$10,000 per day per vessel for the Company to cover its operating cash breakeven, defined as G&A, operating cost, debt amortization and interest costs.
2020 Bulkers has eight Newcastlemax dry bulk vessels in operation. All vessels are fitted with exhaust scrubber systems.
Source: 2020 Bulkers