2020 Bulkers Ltd. (2020) – Results for the third quarter and key dividend information for first monthly dividend
Hamilton, Bermuda, November 7, 2019
2020 Bulkers Ltd (2020) (“2020 Bulkers” or the “Company”), today announced its unaudited financial and operating results for the three months ended September 30, 2019.
Key events during the third quarter of 2019
- The Company reported net profit of US$0.8 million and EBITDA of US$0.9 million for the third quarter of 2019. Achieved average time charter equivalent earnings of US$37,800 per day.
- On July 12, 2019, the Company´s shares were listed on the Oslo Axess under the ticker symbol “2020”.
- On August 7, 2019 the Company took delivery of the 208,000 dwt Newcastlemax, Bulk Sandefjord. Upon departing New Times Shipyard, the Bulk Sandefjord commenced the three-year index-linked charter with Koch Industries.
- On September 19, 2019 the Company took delivery of the 208,000 dwt Newcastlemax, Bulk Santiago. Upon departing New Times Shipyard, the Bulk Santiago commenced a 12-15 month timecharter with Koch Industries.
Subsequent Events
- Board of Directors has declared the Company’s first cash dividend of US$0.055 per share. The dividend will be paid on or around November 20, 2019, to shareholders on record as of November 12, 2019 and the ex-dividend date will be November 11, 2019. The last day of trading including right is November 8, 2019.
- In October 2019 the Company entered into an 11-13 month index-linked timecharter for Bulk Shanghai with ST Shipping, a 100% owned subsidiary of Glencore
- In October 2019 the Company entered into a sale and leaseback arrangement with Ocean Yield for the Bulk Seoul and Bulk Shanghai.
- In October 2019 the Company entered into an 11-13 month index-linked timecharter for Bulk Shenzhen with ST Shipping, a 100% owned subsidiary of Glencore
- On October 30, the Company took delivery of the 208,000 dwt Newcastlemax, Bulk Seoul. Upon departing New Times Shipyard, the Bulk Seoul commenced its 12-16 month time charter with Koch Industries.
- On November 6, 2019 the Company took delivery of the 208,000 dwt Newcastlemax, Bulk Shanghai. Upon departing New Times Shipyard, the Bulk Shanghai will commence the 11-13 month index-linked timecharter with ST Shipping, a 100% owned subsidiary of Glencore.
The Board of Directors Report, the Condensed Consolidated Financial Statements and the Q3 2019 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 Axess under the ticker “2020”.
2020 Bulkers is an international owner and operator of large drybulk vessels. The Company currently has four Newcastlemax drybulk vessels in operations and four Newcastlemax drybulk vessels under construction at New Times Shipyard in China. The remaining newbuildings are expected to be delivered from the Yard between January and May 2020
November 7, 2019
Board of Directors
2020 Bulkers Ltd.
Hamilton, Bermuda