2020 Bulkers Ltd. (2020) – Commercial update for September 2019

Hamilton, Bermuda, 7 October, 2019

The Company achieved average time charter equivalent earnings of USD 37,998 per day in September 2019 of which the Company’s vessel trading on index-linked time-charter earned USD 44,155 per day and the Company’s vessel on fixed charter earned USD 19,525 per day.

The Baltic 5TC Capesize Index averaged USD 32,829 during September 2019.

The cash breakeven rate for the Company´s vessels is approximately USD 14,000 per day.

For further queries, please contact:

Magnus Halvorsen, Chief Executive Officer,

Telephone +47 920 20 111

About 2020 Bulkers Ltd.:

2020 Bulkers has two vessels in operation and six Newcastlemax drybulk vessels under construction at New Times Shipyard in China. All vessels are expected to be delivered by May 2020 and will be fitted with exhaust scrubber systems.