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2020 Bulkers Ltd. (2020) - Results for the fourth quarter

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Hamilton, Bermuda, January 28, 2021

2020 Bulkers Ltd. (“2020 Bulkers” or the “Company”), today announced its unaudited financial and operating results for the three and twelve months ended December 31, 2020.

Key events during the fourth quarter of 2020

  • The Company reported net profit of US$3.6 million and EBITDA of US$9.1 million for the fourth quarter of 2020.

  • Achieved average time charter equivalent earnings of approximately US$20,500, per day, gross.

  • The Company declared total cash distributions of US$0.17 per share for the months of October, November and December 2020.

  • On November 2, 2020, the listing of the Company’s shares was successfully transferred from Oslo Axess to Oslo Børs.

Subsequent Events

  • Achieved average time charter equivalent earnings so far in the first quarter of approximately US$28,500, per day, gross.

  • In January 2021, the Bulk Shenzhen was fixed on a voyage charter with estimated duration until mid-April 2021. The voyage charter is expected to generate time charter equivalent earnings of approximately US$18,500 per day, net.

 

The Board of Directors Report, the Condensed Consolidated Financial Statements and the Q4 2020 Presentation are available in the enclosed files.

 

About 2020 Bulkers Ltd.

2020 Bulkers Limited is a limited liability company incorporated in Bermuda on 26 September 2017. The Company’s shares are traded on Oslo Børs under the ticker “2020”.

2020 Bulkers is an international owner and operator of large dry bulk vessels. The Company has eight Newcastlemax dry bulk vessels in operation.

 

January 28, 2021

Board of Directors

2020 Bulkers Ltd.

Hamilton, Bermuda

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