Western Bulk hereby declares a dividend of USD 16 million based on the company's
results for the first quarter of 2022.

The declared dividend of USD 16 million corresponds to a dividend of NOK 142.4
million @USDNOK 8,90, or NOK 4,24 per share. The share will trade ex dividend on
April 27th, record date is May 2nd and payment date is May 5th.

By utilizing the continued high market volatility, both in respect of total
market levels and relative levels between the Pacific and Atlantic basins,
Western Bulk has achieved a record high result for the first quarter of 2022.

Based on the current market outlook a net profit after tax of USD 7 to 9 million
is expected for Q2-22.

Contacts
For more information, please contact: 
Hans Aasnæs, Chief Executive Officer
Tel: +47 922 53957
E-mail: hans.aasnas@westernbulk.com

Kenneth Thu, Chief Financial Officer 
Tel: +47 988 74302
E-mail: kenneth.thu@westernbulk.com

About Western Bulk Chartering:
Western Bulk Chartering AS is a major dry bulk shipping operator. The company is
privately owned by Kistefos Group (68,1 %), Ojada AS (8,3 %) and a group of
about 1000 other shareholders. See www.westernbulk.com for more information.
Western Bulk Chartering AS is listed on Euronext Growth.

Disclaimers
This press release contains forward-looking statements. Forward-looking
statements are statements that are not historical facts and may be identified by
words such as "believe," "expect," "anticipate," "intends," "estimate," "will,"
"may," "continue," "should" and similar expressions. The forward-looking
statements in this release are based upon various assumptions, many of which are
based, in turn, upon further assumptions. Although Western Bulk Chartering
believes that these assumptions were reasonable when made, these assumptions are
inherently subject to significant known and unknown risks, uncertainties,
contingencies and other important factors which are difficult or impossible to
predict and are beyond its control. Such risks, uncertainties, contingencies and
other important factors could cause actual events to differ materially from the
expectations expressed or implied in this release by such forward-looking
statements.

The information, opinions and forward-looking statements contained in this
release speak only as at its date and are subject to change without notice
Western Bulk Chartering disclaims any obligation to update and revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.