Tor Olav Troim-backed 2020 Bulkers has pushed up earnings from fixed-rate charters as index-linked returns fall.

The Oslo-listed owner of eight newcastlemaxes said average time charter equivalent income was $15,800 per day in February, down from $16,500 in January.

The two vessels trading on index-linked time charters managed $9,500 per day in February, including average daily scrubber benefits of $3,500, compared with four ships on index-linked deals that earned $15,900 the month before.