2020 Bulkers has converted the index-linked charters for Bulk Sandefjord and Bulk Shanghai into fixed rate charters at US$54,000 per ship per day, gross, for the period from September 1, 2021 until December 31, 2021.

In addition, both vessels will still earn a premium related to the fuel cost savings from the scrubbers.

The Company expects average operating cash breakeven after G&A, vessel operating costs and debt service of approximately US$14,500 per ship per day for 2021.

About 2020 Bulkers Ltd.

2020 Bulkers has eight Newcastlemax dry bulk vessels in operation.

All vessels are fitted with exhaust scrubber systems.