2020 Bulkers has converted the index-linked time charters for Bulk Santiago and Bulk Shenzhen to fixed-rate charters for Q1 2023 at a rate of US$16,500, gross, including scrubber benefit.
Following the fixed rate charter period, both time charters have been extended with 8-13 months index-linked charters reflecting a significant premium to a standard Capesize vessel, as well as an additional premium related to the fuel cost saving from the scrubbers.
For Q1 2023, 2020 Bulkers has four vessels fixed at an average rate of US$17,069, gross, as well as a floating scrubber benefit for one vessel. The Company maintains 100% floating rate exposure to the normally seasonally stronger market from the second quarter onwards.