Oslo, Norway, September 26, 2025
2020 Bulkers (the "Company") announces that it has signed agreements to sell
each of its 2019 built Newcastlemax vessels, Bulk Sandefjord and Bulk
Santiago, and the 2020 built Newcastlemax vessel, Bulk Shenzhen, to an
unaffiliated third party for a total consideration of US$209 million. Each
sale is subject to certain closing conditions, in line with industry
standards.
The Company will retain the vessels' respective operating cashflows until
closing of each vessel transaction, each of which is agreed to take place
during Q1 2026.
The Company expects to recognize a net book gain of approximately US$89
million upon completion of the transactions.
The Board of Directors of the Company will, subject to completion of the
sales, determine the allocation of the net proceeds from the transactions.
For further queries, please contact:
Lars-Christian Svensen, Chief Executive Officer, 2020 Bulkers Management AS.
Telephone +47 476 38 756
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and subject to the disclosure requirements pursuant to
section 5-12 of the Norwegian Securities Trading Act. This stock exchange
notice was published by Vidar Hasund, CFO, on the date and time as set out in
the release.
About 2020 Bulkers Ltd.
2020 Bulkers has six Newcastlemax dry bulk vessels in operation. All vessels
are fitted with exhaust scrubber systems.
Forward-Looking Statements
This announcement includes forward looking statements. Forward looking
statements are, typically, statements that do not reflect historical facts and
may be identified by words such as "anticipate", "believe", "continue",
"estimate", "expect", "intends", "may", "should", "will" and similar
expressions. The forward-looking statements in this announcement are based
upon various assumptions, many of which are based, in turn, upon further
assumptions. Although 2020 Bulkers Ltd. believes that these assumptions are
reasonable, they are, by their nature, uncertain and subject to significant
known and unknown risks, contingencies and other factors which are difficult
or impossible to predict and which are beyond our control. Such risks,
uncertainties, contingencies and other factors could cause actual events to
differ materially from the expectations expressed or implied by the
forward-looking statements included herein.
The information, opinions and forward-looking statements contained in this
announcement speak only as of the date hereof and are subject to change
without notice.