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Gearbulk renegotiates long-term charter rates with Japanese owners

Gearbulk, which controls a combined fleet of about 70 open hatch, as well as other specialised and conventional vessels is renegotiating term charter deals with Japanese shipowners amid grim dry bulk rates and the coronavirus outbreak

The shipowner says the charter contracts made in earlier years are based on newbuilding prices and rates that are no longer sustainable going forward

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