Newcastlemax owner 2020 Bulkers has no plans to take forward cover for the first quarter of 2024 and is anticipating improvements to capesize freight rates.
Its eight vessels are currently all fixed on index-linked contracts and the Oslo-listed company has no plans to convert them to fixed-rate employment, its chairman said on Wednesday.
“It gives us access to what we believe is an improving capesize market,” Magnus Halvorsen told investors and analysts on 2020 Bulkers’ third-quarter earnings call.
