Tor Olav Troim-backed 2020 Bulkers has ramped up its shareholder payout for May after seeing average rates spike.
The Oslo-listed owner of eight newcastlemax bulkers said it had achieved an average time charter equivalent rate of $39,600 per day last month, up from $23,600 per day in April.
The six vessels trading on index-linked time charters earned $40,700 per day last month, including scrubber benefits of $2,900 per day.
