2020 Bulkers Ltd. (2020) – Sale of Bulk Shanghai and Bulk Seoul
Oslo, Norway, February 12, 2024 2020 Bulkers Ltd. (the “Company”) announces that it has signed an agreement to sell its 2019 built Newcastlemax vessels Bulk Shanghai and Bulk Seoul to an unaffiliated third party for a total consideration of US$127.5 million. The sale is subject to certain closing conditions, in line with industry standards. The two vessels are currently owned by Ocean Yield under a sale leaseback arrangement, and the Company has exercised its option with Ocean Yield to effectuate the sale. The Company will retain the vessels’ operating cashflow until closing of the