Tor Olav Troim-backed shipowner 2020 Bulkers believes the company is already in the money on its contracts for eight newcastlemaxes at New Times Shipyard in China.
The ships were ordered late last year for between $44.2m and $44.7m. Company chairman Magnus Halvorsen said Chinese shipyards now are quoting a price closer to $50m for newcastlemaxes for delivery in the middle of 2020.
