2020 Bulkers Ltd. (2020) – Commercial update and key information relating to the cash distribution for October 2021

Hamilton, Bermuda, November 9, 2021

Commercial update:

In October 2021, the Company achieved average time charter equivalent earnings of approximately US$61,100 per day, gross. The Company’s four vessels trading on index-linked time charter earned approximately US$82,500 per day, gross, including average daily scrubber benefits of approximately US$2,100 per day. The Company’s four vessels trading on fixed time charter earned approximately US$43,000 per day, gross, including average daily scrubber benefits of approximately US$2,100 per day. Bulk Shenzhen received US$35,000 per day in off-hire insurance for eight days during the month.  

The Baltic 5TC Capesize Index averaged US$64,669 during October 2021.

Bulk Shenzhen commenced operations on October 9, 2021, following yard repairs.

Cash Distribution:

The Board has approved a cash distribution of US$0.49 per share for October 2021. 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.

Key information:

Distribution amount: US$0.49 per share

Declared currency: US$

Date of approval: November 8, 2021

Last day including right: November 18, 2021

Ex-date: November 19, 2021

Record date: November 22, 2021

Payment date: On or about November 29, 2021

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.