Norway’s 2020 Bulker has moved one of its newcastlemax bulk carriers to a fixed-rate charter amid falling earnings levels.

The Oslo-listed owner, backed by Tor Olav Troim, has converted a deal for the 208,000-dwt Bulk Sao Paulo (built 2020) from an index-linked contract previously.

The ship will now earn $16,146 per day from 1 October until 31 March.