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2020 Bulkers Ltd. (2020) – Time charter agreements for Bulk Sao Paulo and Bulk Santos

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Hamilton, Bermuda, May 15, 2020

2020 Bulkers has entered into time charter agreements for Bulk Sao Paulo and Bulk Santos with a 100% owned subsidiary of Glencore.

The vessels will commence their respective 35-37 month time charters upon delivery from New Times Shipyard in early June 2020, and will earn an index-linked rate, reflecting a significant premium to the Baltic 5TC index. The time charters also include a profit sharing of any economic benefit derived from operating the vessels scrubbers, as well as certain rights to convert the time charters to fixed rates 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 six vessels in operation and two Newcastlemax dry bulk vessels under construction at New Times Shipyard in China. The remaining newbuildings are expected to be delivered by June 2020. All vessels will be fitted with exhaust scrubber systems.

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