2020 Bulkers boosts earnings following conversion of charter deal

Dry bulk operator 2020 Bulkers has converted charters for two vessels from index-linked to fixed-rate. The earnings far exceed the breakeven point, which reflects the red-hot dry bulk market.

Photo: PR / 2020 Bulkers

2020 Bulkers has just converted charters for two dry bulk vessels, and the details of the conversion provide a good example of the favorable market conditions on the red-hot dry bulk market with rising freight rates.

According to a press release, the dry bulk operator has converted Bulk Sandefjord and Bulk Shanghai from index-linked charters to fixed-rate charters at USD 54,000 per vessel per day.

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