2020 Bulkers Ltd
OSE:2020

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2020 Bulkers Ltd Logo
2020 Bulkers Ltd
OSE:2020
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Price: 133.4 NOK 1.6%
Market Cap: kr3.1B

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
Q4 2025
Call Date
Feb 11, 2026
AI Summary
Q4 2025

Profitability: 2020 Bulkers reported a Q4 2025 net profit of $13.8 million and EBITDA of $16.5 million.

Strong Charter Rates: The company achieved an average time charter rate of about $39,300 per day in Q4.

Vessel Sales: Three vessels were sold for a total of $218.25 million, with deliveries scheduled for Q1 2026.

Dividends: Total dividends of $0.63 per share were declared for October–December 2025, plus $0.15 for January 2026.

Returns to Shareholders: The company has declared total dividends and distributions of $251 million and plans to return all sales proceeds and most cash to shareholders.

Strategic Shift: With all vessels being sold, the company will retain only a small amount of cash to support G&A and stay listed for potential future opportunities.

Key Financials
Net Profit
$13.8 million
EBITDA
$16.5 million
Operating Profit
$15.8 million
Operating Revenues and Other Income
$21.4 million
Earnings per Share
$0.60
Average Time Charter Equivalent Rate
$39,300 per day
Vessel Operating Expenses
$3.5 million
Average Operating Expenses per Ship per Day
$6,300
G&A
$1.1 million
Interest Expense
$1.9 million
Shareholders' Equity
$148.4 million
Interest-Bearing Debt
$112.5 million
Cash Flow from Operations
$15.5 million
Cash and Cash Equivalents
$22.1 million
Dividends per Share (Q4 2025)
$0.63
Dividends per Share (January 2026)
$0.15
Net TCE Earnings (January 2026)
$30,800 per day
Total Vessel Sale Proceeds
$218.25 million
Cumulative Dividends and Distributions
$251 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
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