2020 Bulkers Ltd. (2020) - Extended time charter agreements for Bulk Santiago and Bulk Seoul

Hamilton, Bermuda - November 11, 2021

2020 Bulkers has entered into extended 10-13 month time charter agreements for Bulk Santiago and Bulk Seoul with Koch.

The extensions will commence February 1, 2022, in direct continuation of their current charters.

The vessels will earn an index-linked rate, reflecting a significant premium to the Baltic 5TC index.

The time charters also include a profit sharing of any economic benefit derived from operating the vessels scrubbers, as well as certain rights to convert the time charters to fixed rates on the basis of the prevailing FFA curve from time to time.

About 2020 Bulkers Ltd.
2020 Bulkers has eight Newcastlemax dry bulk vessels in operation. All vessels are fitted with exhaust scrubber systems.

2020 Bulkers Limited press release