2020 Bulkers Ltd. (2020) - Commercial update and key information relating to the cash distribution for March 2023

13 Apr 2023 08:00 CEST

Oslo, Norway, April 13, 2023

Commercial update:

In March 2023, the Company achieved average time charter equivalent earnings of
approximately US$20,000 per day, gross. The Company's vessel trading on index
-linked time charter earned approximately US$22,200 per day, gross, including
average daily scrubber benefits of approximately US$3,300 per day. The Company's
seven vessels trading on fixed time charter earned approximately US$19,700 per
day, gross, including average daily scrubber benefits of approximately US$1,400
per day.

The Baltic 5TC Capesize Index averaged US$13,907 during March 2023.

Cash Distribution:

The Board has approved a cash distribution of US$0.02 per share for March 2023.
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:

Distribution amount: US$0.02 per share

Declared currency: US$

Date of approval: April 12, 2023

Last day including right: April 19, 2023

Ex-date: April 20, 2023

Record date: April 21, 2023

Payment date: On or about April 28, 2023

For further queries, please contact:

Magnus Halvorsen, Chairperson, 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.

More information:
Access the news on Oslo Bors NewsWeb site