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2020 Bulkers Ltd. (2020) - Delivery of Bulk Sao Paulo and commencement of Charter

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Hamilton, Bermuda, June 4, 2020

2020 Bulkers is pleased to announce that it today took delivery of the seventh of the eight 208,000 dwt Newcastlemax newbuildings. The final newbuilding is expected to be delivered later this month.

The vessel will on June 6, 2020, commence a 35-37 month index-linked time charter with ST Shipping, a 100% owned subsidiary of Glencore. The index-linked charter rate reflects a significant premium to a standard Capesize as a function of higher cargo intake and lower fuel consumption. The vessel will also earn an additional premium related to the fuel cost saving from the scrubber.

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 will be fitted with exhaust scrubber systems. The final newbuilding is expected to be delivered in June 2020.

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