2020 Bulkers Ltd. (2020) - Conversion of index-linked charter hire for Bulk Shenzhen and Bulk Sydney

Hamilton, Bermuda, September 29, 2021

2020 Bulkers has today converted the index-linked charters for Bulk Shenzhen and Bulk Sydney into fixed rate charters at US$61,628 and US$60,260 per ship per day, gross, for the period from November 1, 2021 until December 31, 2021. In addition, both vessels will still earn a premium related to the fuel cost savings from the scrubbers.

The Company expects average operating cash breakeven after G&A, vessel operating costs and debt service of approximately US$14,500 per ship per day for 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.

Forward-Looking Statements

This announcement includes forward looking statements. Forward looking statements are, typically, statements that do not reflect historical facts and may be identified by words such as "anticipate", "believe", "continue", "estimate", "expect", "intends", "may", "should", "will" and similar expressions. The forward-looking statements in this announcement are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although 2020 Bulkers Ltd. believes that these assumptions are reasonable, they are, by their nature, uncertain and subject to significant known and unknown risks, contingencies and other factors which are difficult or impossible to predict and which are beyond our control. Such risks, uncertainties, contingencies and other factors could cause actual events to differ materially from the expectations expressed or implied by the forward-looking statements included herein.

The information, opinions and forward-looking statements contained in this announcement speak only as of the date hereof and are subject to change without notice.