2020 Bulkers Ltd (“2020” or the “Company”) – Financing and dividend update
Hamilton, Bermuda, October 15th 2019 Financing update 2020 Bulkers Ltd announces that the Company has agreed to enter into a sale and lease back arrangement with Ocean Yield for its two Newcastlemax vessels, Bulk Seoul and Bulk Shanghai. The vessels are expected to be delivered from the yard on 30 October and 6 November, respectively, and will at delivery be sold to Ocean Yield for a price per vessel of USD 42 million, net of a USD 5 million sellers’ credit. The vessels will be chartered back to the Company on thirteen year bareboat charters which include a purchase obligation at the