Koch Shipping extended a year charter deals for two newcastlemax bulk carriers of Tor Olav Troim backed 2020 Bulkers. Koch Supply and Trading’s ship chartering arm Koch Shipping stretches charters for two newcastlemax bulk carriers of Oslo-listed 2020 Bulkers. US-based Koch Shipping is adding one-year deals for newcastlemax bulk carriers 208K DWT MV Bulk Santiago and MV Bulk Seoul. MV Bulk Santiago and MV Bulk Seoul chartered for an index-linked rate reflecting a significant premium to the Baltic 5TC index. MV Bulk Santiago and MV Bulk Seoul charter contracts also have a profit-sharing element from scrubber fuel savings.
Tor Olav Troim backed 2020 Bulkers will benefit from Koch Shipping deal. Baltic index-linked time charters will start on 25 December 2019 for MV Bulk Santiago and 1 January 2020 for MV Bulk Seoul. Previously, MV Bulk Santiago and MV Bulk Seoul charters were on fixed-rate. MV Bulk Santiago was fixed for $19,525 per day and MV Bulk Seoul was fixed for $22,250 per day.
Koch Shipping chartered in new building newcastlemax bulk carriers ordered by 2020 Bulkers. Tor Olav Troim’s 2020 Bulkers ordered 8 newcastlemax bulk carriers in New Times Shipyard in China for delivery in 2019 and 2020. Recently 2020 Bulkers appointed Magnus Halvorsen as the new CEO. Oslo Over The Counter (OTC) listed 2020 Bulkers chartered out first newcastlemax bulk carrier for 3 years to Koch Shipping.
New building newcastlemax bulk carrier will be delivered in September 2019 to Koch Shipping. Lately, Koch Shipping is showing a growing interest in taking newcastlemaxes on period charters. Koch Shipping chartered in two (2) similar dry bulk carriers on the period from Diana Shipping 206K DWT MV Philadelphia and 208K DWT MV San Fransisco. Koch Shipping has also fixed newcastlemax bulk carriers from DryShips 205K DWT MV Judd and 226K DWT MV Morandi.
US-listed shipowner and operator Diana Shipping chartered out 2010 built capesize dry bulk carrier 177K DWT MV New York to DHL at $16,000 per day. Previously, MV New York was chartered out US-based fertilizer giant Koch Shipping at $14,450 per day. As company policy US-listed shipowner and operator Diana Shipping charters out all of its fleet on period charters.
American giant Koch Shipping chartered in two (2) capesize dry bulk carriers for one year. Koch Shipping chartered in 2012 built 179K DWT M/V Glovis Advance for $13,750 per day and 2012 built 179K DWT M/V Baltic Lion for $15,000 per day. Charter hire differences occurred due to delivery and redelivery options.
Koch Industries Commodities Group shipping arm Koch Shipping has quietly built up chartered tonnage of 11 capesize fleet. Koch Shipping dry bulk chartering based in Geneva. American giant company Koch Industries Commodities Group is controlled by brothers Charles and David Koch. Koch Shipping originally aimed at charters of 2 to 3 year charters. But, shipowners were reluctant to lock in ships in the current market.
Koch Shipping Pte Ltd based in Singapore is wholly owned by Koch Supply & Trading LLC Delaware USA. Koch Carbon which is dealing mostly with tonnage panamax and handysize bulk carriers. Koch Industries Commodities Group shipping arm Koch Shipping chartered in capesize dry bulk carrier M/V New Orleans from New York-listed shipowner and operator Diana Shipping for $11,750 per day. In October 2016, Koch Shipping chartered in capesize dry bulk carrier 180K DWT Dream Canary for 12 to 16 months at $10,500 per day from Nissen Kaiun.
In September 2016, Koch Shipping chartered in capesize dry bulk carrier 175K DWT M/V ABY Scarlett $8,500 per day for 12 to 16 months from shipowner Augustea. In December 2016, Koch Industries Commodities Group shipping arm Koch Shipping also chartered in NB capesize dry bulk carrier 208K DWT M/V San Francisco (built 2016), at $11,750 per day.
Capesize spot market halved in two weeks to just $7,100 per day by December 14, 2016. $7,100 per day only enough to cover the operating costs of capesize dry bulk carriers. US-listed owner Diana Shipping chartered out 2015 built capesize dry bulk carrier 180K DWT M/V New Orleans to Koch Shipping for $11,250 per day 12 to 16 months.
Spot market rates for capesize bulkers have halved in two weeks to just $7,100 per day by Wednesday. Currently, spot market rates for capesize bulkers have only covering operating costs. Greek shipowner and operator Diana Shipping first fixed out the 2015 built capesize dry bulk carrier 180K DWT M/V New Orleans to Koch Shipping for a year at $11,250 per day. Koch Shipping has done another deal with the US-listed shipowner and operator Diana Shipping. Koch Shipping chartered in capesize dry bulk carrier 208K DWT M/V San Francisco for a year at $11,750 per day.