2020 Bulkers Ltd. (2020) – Commercial update May 2020

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Hamilton, Bermuda, June 15, 2020

Commercial update:

In May 2020, the Company achieved average time charter equivalent earnings of approximately US$16,700 per day, gross. The Company’s two vessels trading on index-linked time charter earned approximately US$7,000 per day, gross, including average daily scrubber benefits of approximately US$1,300 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$4,042 during May 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 seven vessels in operation and one Newcastlemax dry bulk vessel under construction at New Times Shipyard in China. All vessels are fitted with exhaust scrubber systems. The final newbuilding is expected to be delivered in June 2020.