2020 Bulkers Ltd. (2020) - Results for the third quarter of 2023
Oslo, Norway, November 8, 2023
2020 Bulkers Ltd. (“2020 Bulkers” or the “Company”), today announced its unaudited financial and operating results for the three and nine months ended September 30, 2023.
Key events during the third quarter of 2023
- The Company reported net profit of US$5.2 million and EBITDA of US$11.1 million for the third quarter of 2023.
- Achieved average time charter equivalent earnings of approximately US$21,000 per day, gross.
- The Company declared total cash distributions of US$0.12 per share for the months of July, August and September 2023.
Subsequent Events
- Achieved average time charter equivalent earnings for October 2023 of approximately US$36,300, per day, gross.
- In November 2023, the Company declared a cash distribution of US$0.2 per share for October 2023.
The Board of Directors Report, the Condensed Consolidated Financial Statements and the Q3 2023 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 owner and operator of large dry bulk vessels. The Company has eight Newcastlemax dry bulk vessels in operation.
November 8, 2023
Board of Directors
2020 Bulkers Ltd.
Oslo, Norway