2020 Bulkers offloads newcastlemax bulker in $72.75m deal

Lars-Christian Svensen-led 2020 Bulkers has inked an agreement to sell the 2020-built newcastlemax vessel, Bulk Sao Paulo, to an unaffiliated third party.

The Oslo Børs-listed newcastlemax shipowner said it had agreed to offload the vessel for a total consideration of $72.75m.

The shipowner didn’t disclose the name of the buyer.

The company will retain the vessels’ operating cashflows until the closing of the transaction, 2020 Bulkers said in a filing, which is agreed to take place during the first quarter of 2026.

Meanwhile, the shipowner expects to recognize a net book gain of around $29m upon completion of the