Oslo, Norway, May 7, 2025
 
Commercial update:
 
In April 2025, the Company achieved average time charter equivalent rate (“TCE")* of approximately US$27,100 per day, gross. The Company’s four vessels trading on index-linked time charter earned approximately US$24,200 per day, gross, including average daily scrubber benefits of approximately US$1,900 per day. The Company’s two vessels trading on fixed time charter earned approximately US$32,200 per day, gross, including average daily scrubber benefits of approximately US$1,000 per day. The Company had 161 operational days in April 2025.

Bulk Sao Paulo, trading on index-linked time charter in April, had off-hire for 19 days in April due to completion of 5 year special survey. The extended off-hire is due to yard congestion.

The Baltic 5TC Capesize Index averaged US$16,022 during April 2025.

*Average time charter equivalent rate, gross, (“TCE") when used by the Company, means time charter revenues and voyage charter revenues excluding address commission, less voyage charter expenses and adjusted from “load to discharge” basis to “discharge to discharge” basis and divided by operational days.
Dividend: 
 
The Board has approved a dividend of US$0.10 per share for April 2025.
 
Key information:
 
Dividend amount: US$0.10 per share
 
Declared currency: US$
 
Date of approval: May 6, 2025
 
Last day including right: May 14, 2025
 
Ex-date: May 15, 2025
 
Record date: May 16, 2025
 
Payment date: On or about May 23, 2025
 
For further queries, please contact:
Lars-Christian Svensen, Chief Executive Officer, 2020 Bulkers Management AS.
Telephone +47 476 38 756
 
About 2020 Bulkers Ltd.
2020 Bulkers has six Newcastlemax dry bulk vessels in operation. All vessels are fitted with exhaust scrubber systems.