2020 Bulkers Ltd. (2020) - Time charter agreement for Bulk Shenzhen

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Hamilton, Bermuda, April 8, 2021

2020 Bulkers has entered into a 19-23 month time charter agreement for Bulk Shenzhen with Koch Shipping, commencing later in April upon completion of the ongoing voyage charter.

The vessel will earn an index-linked rate, reflecting a significant premium to the Baltic 5TC index. The time charter also includes a profit sharing of any economic benefit derived from operating the vessels scrubbers, as well as certain rights to convert the time charter to fixed rate on the basis of the prevailing FFA curve from time to time.

For further queries, please contact:

Magnus Halvorsen, Chief Executive Officer, 2020 Bulkers Management AS

Telephone +47 920 20 111

About 2020 Bulkers Ltd.

2020 Bulkers has eight Newcastlemax dry bulk vessels in operation. All vessels are fitted with exhaust scrubber systems.