2020 Bulkers Ltd. (2020) - Results for the second quarter of 2024
Oslo, Norway, August 14, 2024
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, 2024.
Key events during the second quarter of 2024
- The Company reported net profit of US$31.1 million and EBITDA of US$34.4 million for the second quarter of 2024. The results include a US$20.4 million gain from the sale of Bulk Seoul which was delivered to the buyer on April 4, 2024.
- Achieved average time charter equivalent earnings of approximately US$34,300 per day, gross.
- Entered into a new amended non-amortizing loan facility, maturing in April 2029, lowering the Company’s cash breakeven to an estimated US$11,800 per day.
- The Company declared total dividends of US$0.52 per share for the months of April, May and June 2024.
Subsequent Events
- Achieved average time charter equivalent earnings for July 2024 of approximately US$37,600, per day, gross.
- In August 2024, the Company declared a dividend of US$0.20 per share for July 2024.
The Board of Directors Report, the Condensed Consolidated Financial Statements and the Q2 2024 Presentation are available in the enclosed files.
About 2020 Bulkers Ltd.
2020 Bulkers Ltd. 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 owner and operator of large dry bulk vessels. The Company has six Newcastlemax dry bulk vessels in operation.
August 14, 2024
Board of Directors
2020 Bulkers Ltd.
Oslo, Norway