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2020 Bulkers Ltd. (2020) - Results for the third quarter

12 November 2020 - 08:13

Hamilton, Bermuda, November 12, 2020

2020 Bulkers Ltd (2020) (“2020 Bulkers” or the “Company”), today announced its unaudited financial and operating results for the three and nine months ended September 30, 2020.

Key events during the third quarter of 2020

  • The Company reported net profit of US$4.8 million and EBITDA of US$10.6 million for the third quarter of 2020.
  • Achieved average time charter equivalent earnings of approximately US$22,100, per day, gross.
  • In September 2020, the Company paid dividends of US$0.01 per share for the month of July, 2020.
  • In September 2020, the Company extended the time charter for Bulk Shanghai with ST Shipping, a fully owned subsidiary of Glencore for a period of 6-8 months from 7 October 2020. The vessel will from 7 October 2020 earn a fixed rate of US$18,000 per day, gross, as well as share of the fuel savings generated from the scrubber.
  • In October 2020, the Company paid dividends of US$0.03 per share and US$0.06 per share for the months of August and September 2020, respectively.

Subsequent Events

  • On November 2, 2020, the listing of the Company’s shares was successfully transferred from Oslo Axess to Oslo Børs
  • Achieved average time charter equivalent earnings so far in the fourth quarter of approximately US$21,700, per day, gross.
  • Declared dividend of US$0.07 per share for the month of October, payable on or about November 27, 2020.

The Board of Directors Report, the Condensed Consolidated Financial Statements and the Q3 2020 results presentation are available in the enclosed files.

 

About 2020 Bulkers Ltd.

2020 Bulkers Ltd. is a limited liability company incorporated in Bermuda on 26 September 2017. The Company’s shares are traded on Oslo Børs 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.

 

November 12, 2020

Board of Directors

2020 Bulkers Ltd.

Hamilton, Bermuda

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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