2020 Bulkers reports strong Q3 profit, strategic vessel sales

2020 Bulkers Ltd. announced a net profit of $9.8 million and EBITDA of $14.2 million for Q3 2025, with an average time charter equivalent earning of $35,100 per day, gross. The company declared total dividends of $0.54 per share for July, August, and September 2025, alongside hedging transactions securing an average fixed rate of $33,700 per day, gross, for two vessels.

Strategic fleet adjustments were a major highlight, with agreements signed to sell Bulk Sandefjord, Bulk Santiago, and Bulk Shenzhen for $209 million, with delivery expected in Q1 2026. Following the quarter, in October 2025, Bulk Sao Paulo was also slated for sale for $72.75 million, with an anticipated delivery in Q1 2026. The company expects to recognize a total net book gain of approximately $117 million from these transactions.

Operating revenues for the quarter were $19.3 million, down from $19.9 million in Q3 2024, attributed to reduced time charter rates. Cash and cash equivalents stood at $15.2 million as of September 30, 2025, and net debt was $96 million as of November 10, 2025. The company's cash breakeven is estimated at $11,500 per vessel per day.