Tor Olav Troim-backed 2020 Bulkers has fixed its two remaining newcastlemax newbuildings on term deals.
The Oslo-listed owner now has all eight sisterships on period charters in weak dry markets.
It said the 208,000-dwt Bulk Sao Paulo and Bulk Santos have been secured by trader Glencore for between 35 and 37 months.
They are due from New Times Shipyard in China in early June.
The deals are index-linked, reflecting a "significant premium" to the Baltic 5TC index, the company added.
The contracts also include a profit sharing of any economic benefit derived from operating the vessels' scrubbers, as well as certain rights to convert the time charters to fixed rates on the basis of the prevailing FFA curve, from time to time.
Glencore already has two other 2020 Bulkers vessels on time charter.
Fixed-rate in favour
Earlier this month the company swapped the final two of its existing six vessels on index-linked deals to fixed-rates ones instead, eschewing charters linked to spot market rates.
The 208,000-dwt Bulk Sandefjord (built 2019) has been locked into a charter from June to December at nearly $14,400 per day gross.
The Bulk Sydney (built 2020) will fetch $14,700 per day on a charter covering the same period.
US commodities firm Koch Supply & Trading has chartered both ships in deals that also include a scrubber profit share.
The move marked the second time this year that Oslo-headquartered 2020 Bulkers has announced that it is switching a ship from an index-linked to a fixed-rate charter as the dry cargo market has slumped.
The fixed charter hire covers all budgeted general and administrative and operating costs and debt servicing for the fully delivered fleet of eight vessels for the remainder of the year, the company added.
This means earnings from the final two newbuildings "will go straight to to equity" from after they are delivered in June, chief executive of 2020 Bulkers Management, Magnus Halvorsen told TradeWinds .
