2020 Bulkers Ltd. (2020) - Conversion of index-linked charter hire for Bulk Sandefjord and Bulk Shanghai

Hamilton, Bermuda - August 25, 2021

2020 Bulkers has today converted the index-linked charters for Bulk Sandefjord and Bulk Shanghai into fixed rate charters at US$54,000 per ship per day, gross, for the period from September 1, 2021 until December 31, 2021.

In addition, both vessels will still earn a premium related to the fuel cost savings from the scrubbers.

The Company expects average operating cash breakeven after G&A, vessel operating costs and debt service of approximately US$14,500 per ship per day for 2021.

About 2020 Bulkers Ltd.
2020 Bulkers has eight Newcastlemax dry bulk vessels in operation.

All vessels are fitted with exhaust scrubber systems.

2020 Bulkers Limited press release