2020 Bulkers sells Newcastlemax vessel for $72.75m

2020 Bulkers Ltd. has announced the sale of its 2020-built Newcastlemax vessel, Bulk Sao Paulo, to an unaffiliated third party for $72.75 million. The transaction is subject to standard closing conditions and is anticipated to conclude during Q1 2026. The company will retain the vessel's operating cashflows until the closing date.

Upon completion of the sale, 2020 Bulkers expects to recognize a net book gain of approximately $29 million. The board of directors will determine the allocation of the net proceeds after the sale is finalized. Currently, 2020 Bulkers operates six Newcastlemax dry bulk vessels, all equipped with exhaust scrubber systems.