2020 Bulkers Ltd
OSE:2020

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2020 Bulkers Ltd
OSE:2020
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Price: 140.7 NOK -0.28% Market Closed
Market Cap: 3.2B NOK

2020 Bulkers Ltd
Investor Relations

2020 Bulkers Ltd. engages in the operation of dry bulk carriers. The firm owns as subsidiaries 2020 Bulkers I Inc and 2020 Bulkers II Inc in Liberia. Entities are parts to shipbuilding contract with New Times Shipbuilding Co. Ltd. for construction and delivery of Newcastlemax dry bulk vessel. The Company’s main shareholders comprise Magni Partners and Titan Opportunities Fund.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 12, 2025
AI Summary
Q3 2025

Profit & Revenue: 2020 Bulkers posted Q3 net profit of $9.8 million, operating revenues of $19.3 million, and EBITDA of $14.2 million.

Dividend: The company declared $0.54 per share in dividends for July–September and $0.19 per share for October.

Vessel Sales: Agreements were signed to sell four vessels for a total of $281.75 million, all to be delivered in Q1 2026.

Strong Market: The average time charter equivalent (TCE) rate was $35,100 per day in Q3 and $36,000 per day in October, supported by robust bauxite and iron ore exports.

Low Costs & Resilience: The company highlighted its industry-low cash breakeven of $11,500 per day and the ability to generate profit in almost any market environment.

Positive Outlook: Management expects strong bauxite and iron ore volumes—especially from Guinea and Simandou mine—to keep the market firm, potentially reducing usual Q1 seasonality weakness.

Fleet Strategy: Decisions on capital from vessel sales and future fleet plans remain open, with management emphasizing transparency and shareholder focus.

Key Financials
Net Profit
$9.8 million
EBITDA
$14.2 million
Operating Profit
$11.7 million
Operating Revenues and Other Income
$19.3 million
Earnings Per Share
$0.43
Average TCE Rate
$35,100 per day
TCE Rate for October
$36,000 per day
Dividend Per Share (Q3)
$0.54
Dividend Per Share (October)
$0.19
Vessel Operating Expenses
$3.7 million
Average Vessel Operating Expenses Per Ship Per Day
$6,600
G&A Expenses
$1.2 million
Management Fee (Other Operating Income)
$0.5 million
Interest Expense
$1.9 million
Shareholders' Equity
$148 million
Interest-Bearing Debt
$112.5 million
Cash Flow From Operations
$12.2 million
Cash and Cash Equivalents
$15.2 million
Total Consideration for Vessel Sales (Bulk Sandefjord, Santiago, Shenzhen)
$209 million
Total Consideration for Vessel Sale (Bulk Sao Paulo)
$72.75 million
Earnings Call Recording
Other Earnings Calls

Management

Mr. Herman Alf Billung
Chief Executive Officer
No Bio Available
Mr. Christian Dahll
Chief Operational Officer
No Bio Available
Mr. Vidar Hasund
Chief Financial Officer
No Bio Available
Mr. Petter Lalic
Chief Technology Officer
No Bio Available
Mr. Lars-Christian Svensen
C.C.O.
No Bio Available
Ms. Kseniia Sheiko
Group Controller
No Bio Available

Contacts

Address
Hamilton
S.E. Pearman Building, 2nd floor, 9 Par-la-Ville Road
Contacts