2020 Bulkers Ltd. (2020) - Conversions and charter extensions for Bulk Shanghai and Bulk Seoul

10 Feb 2023 08:00 CET

Oslo, Norway, 10 February 2023,

2020 Bulkers has converted and extended the index-linked time charters for Bulk
Shanghai and Bulk Seoul to fixed rate charters from February 10, 2023, until
September 30, 2023, at a rate of US$22,850, gross, including scrubber benefit.
Following the fixed rate charter periods, both time charters have been extended
with 6 months index-linked charters reflecting a significant premium to a
standard Capesize vessel, as well as an additional premium related to the fuel
cost saving from the scrubbers.

From February 19 until March 31, 2023, 2020 Bulkers has seven vessels fixed at
an average rate of US$18,963, gross, and will additionally earn a floating
scrubber benefit for one vessel.

For further queries, please contact:

Magnus Halvorsen, Chairman, 2020 Bulkers Ltd.

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.

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