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

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Hamilton, Bermuda, January 21, 2020

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

The vessel will on January 23, 2020, commence a three year index-linked time charter with Koch Shipping Pte. Ltd. The index-linked 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,

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. All vessels will be fitted with exhaust scrubber systems. The remaining newbuildings are expected to be delivered by May 2020.

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