Dividend and market update for first quarter

22 May 2025 17:00 CEST

The Board of Directors has decided not to declare a dividend for the first
quarter of 2025.

Through the first months of 2025, the dry bulk market followed a typical
seasonal pattern, with rates softening into early February before rebounding
through March. Supramax rates bottomed around USD 6,000/day before recovering to
around USD 11,000/day by mid-March, from which rates have since come off again.
Panamax rates followed a similar trajectory, briefly exceeding USD 12,000/day
before easing toward USD 10,000/day in the recent weeks.

Market conditions remain subdued, with volatility at notably low levels, and the
group is maintaining its relatively bearish market view for the coming months,
on the back of supply and demand fundamentals.

Any dividend for the second quarter will be announced in August together with
the publication of the first half year report.


Contacts
For more information, please contact:
Torbjørn Gjervik, Chief Executive Officer
Tel: +47 940 28211
E-mail: torbjorn.gjervik@westernbulk.com

Kenneth Thu, Chief Financial Officer
Tel: +47 988 74302
E-mail: kenneth.thu@westernbulk.com


About Western Bulk Chartering:
Western Bulk is a global dry bulk operator and derivatives trader registered on
Euronext Growth in Oslo. Propelled by an entrepreneurial spirit, we combine
in-depth maritime knowledge with trading expertise. Through combining advanced
risk management, extensive use of market data, analytics to optimize fleet
deployment and vessel-cargo matching, we offer tailor-made solutions serving our
customers´ needs.
See westernbulk.com for more information.


Disclaimers
This press release contains forward-looking statements. Forward-looking
statements are statements that are not historical facts and may be identified by
words such as “believe,” “expect,” “anticipate,” “intends,” “estimate,” “will,”
“may,” "continue," “should” and similar expressions. The forward-looking
statements in this release are based upon various assumptions, many of which are
based, in turn, upon further assumptions. Although Western Bulk Chartering
believes that these assumptions were reasonable when made, these assumptions are
inherently subject to significant known and unknown risks, uncertainties,
contingencies and other important factors which are difficult or impossible to
predict and are beyond its control. Such risks, uncertainties, contingencies and
other important factors could cause actual events to differ materially from the
expectations expressed or implied in this release by such forward-looking
statements.

The information, opinions and forward-looking statements contained in this
release speak only as at its date and are subject to change without notice
Western Bulk Chartering disclaims any obligation to update and revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.

More information:
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