Oslo, Norway, April 8, 2025
 
Commercial update:
 
In March 2025, the Company achieved average time charter equivalent rate (“TCE")* of approximately US$29,600 per day, gross, for the Company’s vessels trading on index-linked time charter including average daily scrubber benefits of approximately US$1,300 per day. The Company had 126 operational days in March 2025.

Bulk Shenzhen and Bulk Sydney, both trading on index-linked time charter in March, had off-hire for 21 and 30 days in March, respectively, due to completion of 5 year special surveys. Bulk Sao Paulo, trading on index-linked time charter in March, had total off-hire for 9 days in March, due to ongoing 5 year special survey which is expected to complete on April 17, 2025. The extended off-hires are due to yard congestion and long sailing distances from discharge ports to yard in China.

The Baltic 5TC Capesize Index averaged US$20,802 during March 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$0.06 per share for March 2025.
 
Key information:
 
Dividend amount: US$0.06 per share
 
Declared currency: US$
 
Date of approval: April 7, 2025
 
Last day including right: April 14, 2025
 
Ex-date: April 15, 2025
 
Record date: April 16, 2025
 
Payment date: On or about April 28, 2025
 
For further queries, please contact:
Magnus Halvorsen, Chairperson, 2020 Bulkers Ltd.
Telephone +47 920 20 111
 
About 2020 Bulkers Ltd.
2020 Bulkers has six Newcastlemax dry bulk vessels in operation. All vessels are fitted with exhaust scrubber systems.