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

Commercial update:

In March 2020, the Company achieved average time charter equivalent earnings of approximately USD 16,300 per day, gross, including profit sharing for the scrubbers. The Company’s two vessels trading on index-linked time charter earned approximately USD 5,600 per day, gross, including average daily scrubber benefits of approximately USD 1,100 per day. The Company’s four vessels trading on fixed time charter earned approximately USD 21,600 per day, gross.

The Baltic 5TC Capesize Index averaged USD 3,224 during March 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.