2020 Bulkers Ltd. (2020) – Commercial update April, 2020

Hamilton, Bermuda, May 14, 2020

Commercial update:

In April 2020, the Company achieved average time charter equivalent earnings of approximately US$18,000 per day, gross. The Company’s two vessels trading on index-linked time charter earned approximately US$10,700 per day, gross, including average daily scrubber benefits of approximately US$900 per day. The Company’s four vessels trading on fixed time charter earned approximately US$21,600 per day, gross.

The Baltic 5TC Capesize Index averaged US$7,757 during April 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 six vessels in operation and two Newcastlemax dry bulk vessels under construction at New Times Shipyard in China. The remaining newbuildings are expected to be delivered by June 2020. All vessels will be fitted with exhaust scrubber systems.