2020 Bulkers Ltd. (2020) – Commercial update and key information relating to the cash distribution for September 2020
Hamilton, Bermuda, October 8, 2020
In September 2020, the Company achieved average time charter equivalent earnings of approximately US$21,300 per day, gross. The Company’s two vessels trading on index-linked time charter earned approximately US$27,000 per day, gross, including average daily scrubber benefits of approximately US$1,400 per day. The Company’s six vessels trading on fixed time charter earned approximately US$19,400 per day, gross, including average daily scrubber benefits of approximately US$1,200 per day for two of the vessels.
The Baltic 5TC Capesize Index averaged US$18,071 during September 2020.
The Board has approved a cash distribution of US$0.06 per share for September 2020. The distribution will be made from the Company’s Contributed Surplus account which consists of previously paid in share premium transferred from the Company’s Share Premium account (reference is made to the 2020 Annual General Meeting held August 10, 2020 where it was approved to reduce the Company’s Share Premium account by US$15 million and to increase the Company’s Contributed Surplus account by the same amount).
Distribution amount: US$0.06 per share
Declared currency: US$
Date of approval: October 7, 2020
Last day including right: October 9, 2020
Ex-date: October 12, 2020
Record date: October 13, 2020
Payment date: On or about October 30, 2020
For further queries, please contact:
Magnus Halvorsen, Chief Executive Officer, 2020 Bulkers Management AS
Telephone +47 920 20 111
About 2020 Bulkers Ltd.:
2020 Bulkers has eight Newcastlemax dry bulk vessels in operation. All vessels are fitted with exhaust scrubber systems.