2020 Bulkers Ltd. (2020) – Commercial update and key information relating to the cash distribution for December 2024

Oslo, Norway, January 9, 2025
 
Commercial update:
 
In December 2024, the Company achieved average time charter equivalent rate (“TCE")* of approximately US$19,100 per day, gross, for the Company’s vessels trading on index-linked time charter including average daily scrubber benefits of approximately US$2,300 per day. The Company had 186 operational days in December 2024.

The Baltic 5TC Capesize Index averaged US$11,573 during December 2024.

*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.
 
Cash distribution:
 
The Board has approved a cash distribution of US$0.05 per share for December 2024. The distribution will be made from the Company’s Contributed Surplus account which consists of previously paid in share premium transferred from the Company’s Share Premium account.
 
Key information:
 
Cash distribution amount: US$0.05 per share
 
Declared currency: US$
 
Date of approval: January 8, 2025
 
Last day including right: January 15, 2025
 
Ex-date: January 16, 2025
 
Record date: January 17, 2025
 
Payment date: On or about January 24, 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.