Oslo, Norway, April 16, 2026
Commercial update:
In March 2026, 2020 Bulkers Ltd. (the “Company”) achieved average time charter equivalent rate ("TCE")* of approximately US$21,800 per day, gross. The Company's vessel trading on index-linked time charter earned approximately US$32,700 per day, gross, including average daily scrubber benefits of approximately US$1,000 per day. The Company's vessels trading on fixed time charter earned approximately US$19,900 per day, gross, including scrubber benefits. The Company had 110 operational days in March 2026.
Bulk Santiago, Bulk Sydney, Bulk Sao Paulo, Bulk Shenzhen and Bulk Sandefjord ended their respective time-charter contracts during the period and have all been delivered to the new owners. See separate announcement today regarding the allocation of the cash in the Company through a special dividend and share repurchases.
The Baltic 5TC Capesize Index averaged US$22,907 during March 2026.
*Average time charter equivalent rate, gross, (“TCE") when used by the Company, means time charter revenues and voyage charter revenues excluding address commission plus realized gain (loss) on forward freight agreements, less voyage charter expenses and adjusted from “load to discharge” basis to “discharge to discharge” basis and divided by operational days.
For further queries, please contact:
Lars-Christian Svensen, Chief Executive Officer
Telephone +47 476 38 756