2020 Bulkers Ltd. (2020) – Extended time charter for Bulk Shanghai

18 September 2020 - 08:14

Hamilton, Bermuda, 18 September 2020,

2020 Bulkers has extended the time charter for Bulk Shanghai with ST Shipping, a fully owned subsidiary of Glencore for a period of 6-8 months from 4 October 2020. The vessel will from 4 October 2020 earn a fixed rate of USD 18,000 per day, gross, as well as share of the fuel savings generated from the scrubber.

Magnus Halvorsen, CEO of 2020 Bulkers Management AS says: “We are pleased to further develop our good relationship with Glencore. The extended time charter for Bulk Shanghai secures cash flow through the first quarter of 2021 at a level above our average operating cash breakeven which is estimated at approximately USD 14,000 per day for 2021”.

For further queries, please contact: 

Magnus Halvorsen, Chief Executive Officer, 2020 Bulkers Management AS

Telephone +47 920 20 111

About 2020 Bulkers Ltd.:

2020 Bulkers has eight Newcastlemax dry bulk vessels in operation. All vessels are fitted with exhaust scrubber systems.

Forward-Looking Statements

This announcement includes forward looking statements. Forward looking statements are, typically, statements that do not reflect historical facts and may be identified by words such as "anticipate", "believe", "continue", "estimate", "expect", "intends", "may", "should", "will" and similar expressions. The forward-looking statements in this announcement are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although 2020 Bulkers Ltd. believes that these assumptions are reasonable, they are, by their nature, uncertain and subject to significant known and unknown risks, contingencies and other factors which are difficult or impossible to predict and which are beyond our control. Such risks, uncertainties, contingencies and other factors could cause actual events to differ materially from the expectations expressed or implied by the forward-looking statements included herein.

The information, opinions and forward-looking statements contained in this announcement speak only as of the date hereof and are subject to change without notice.

Provided by: Cision
2020 Bulkers Ltd.
2020 Bulkers Ltd. is a limited liability company incorporated in Bermuda on 26 September 2017. The Companys shares are traded on Oslo Axess under the ticker 2020. 2020 Bulkers is an international owner and operator of large dry bulk vessels. The Company has eight Newcastlemax dry bulk vessels in operation....
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