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

Hamilton, Bermuda - September 29, 2021

2020 Bulkers has today converted the index-linked charters for Bulk Shenzhen and Bulk Sydney into fixed rate charters at US$61,628 and US$60,260 per ship per day, gross, for the period from November 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