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2020 Bulkers Limited: 2020 Bulkers Ltd. (2020) - Bulk Shenzhen incident - update

Hamilton, Bermuda, 17 August 2021,

As previously announced, on August 2, Bulk Shenzhen was involved in a collision with the bulk carrier RB Lisa whilst navigating in laden condition under pilot inbound Yangtze River.

On 11 August 2021, Bulk Shenzhen arrived at IMC Zhoushan shipyard to repair steel damage sustained in the bow area above the water line. Following a thorough inspection at the shipyard the repairs are now expected to take approximately 45 days.  

Based on the updated timeline and the prevailing FFA market, the Company estimates total cost of the incident, including off-hire, of approximately US$1.6 million.

For further queries, please contact: 

Magnus Halvorsen, Chief Executive Officer, 2020 Bulkers Management AS

Telephone +47 920 20 111

About 2020 Bulkers Ltd.:

2020 Bulkers has eight Newcastlemax dry bulk vessels in operation. All vessels are fitted with exhaust scrubber systems.

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