2020 Bulkers Ltd. (2020) - Results for the second quarter and first half of 2021
Hamilton, Bermuda, August 11, 2021
2020 Bulkers Ltd. (“2020 Bulkers” or the “Company”), today announced its unaudited financial and operating results for the three and six months ended June 30, 2021.
Key events during the second quarter of 2021
- The Company reported net profit of US$17.1 million and EBITDA of US$22.5 million for the second quarter of 2021.
- Achieved average time charter equivalent earnings of approximately US$39,500, per day, gross.
- The Company declared total dividends and cash distributions of US$0.75 per share for the months of April, May and June 2021.
- In April 2021, the Company entered into a 19-23 month time charter agreement for Bulk Shenzhen with Koch. The vessel will earn an index-linked rate and a profit share based on the fuel cost saving generated by the scrubbers.
Subsequent Events
- Achieved average time charter equivalent earnings so far in the third quarter of approximately US$40,100, per day, gross.
- At the 2021 Annual General Meeting held June 24, 2021, it was approved to reduce the Share Premium Account (APIC) of the Company by US$75 million and to credit the same amount resulting from the reduction to the Company's Contributed Surplus account, with effect from July 1, 2021.
- The Company declared a cash distribution of US$0.26 per share for the month of July, payable on or about August 30, 2021.
The Board of Directors Report, the Condensed Consolidated Financial Statements and the Q2 2021 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.
August 11, 2021
Board of Directors
2020 Bulkers Ltd.
Hamilton, Bermuda