2020 Bulkers sells three vessels for $209 million

2020 Bulkers Ltd. has signed agreements to sell three Newcastlemax vessels – Bulk Sandefjord (2019 built), Bulk Santiago (2019 built), and Bulk Shenzhen (2020 built) – to an unaffiliated third party for a total consideration of $209 million. The sales are subject to standard closing conditions, with transactions expected to finalize during Q1 2026.

The company will retain the operating cashflows from these vessels until their respective closings. Upon completion, 2020 Bulkers anticipates recognizing a net book gain of approximately $89 million.

Following these sales, 2020 Bulkers will operate six Newcastlemax dry bulk vessels, all equipped with exhaust scrubber systems.