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

Hamilton, Bermuda, November 6, 2019

2020 Bulkers is pleased to announce that it today took delivery of the fourth of the eight 208,000 dwt Newcastlemax newbuildings. Two further vessels are expected to be delivered by January 2020, and the remaining two vessels are expected to be delivered by May 2020.

The vessel will on November 9, 2019, commence a 11-13 month index-linked timecharter with ST Shipping, a 100% owned subsidiary of Glencore. The index-linked rate reflects a significant premium to a standard Capesize as a function of higher cargo intake and lower fuel consumption. Starting January 1, 2020, 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,

Telephone +47 920 20 111

About 2020 Bulkers Ltd.:

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