2020 Bulkers offloads newcastlemax bulkers in $145.5m deal

Lars-Christian Svensen-led 2020 Bulkers has inked an agreement to sell each of its 2020-built newcastlemax vessels, Bulk Sydney and Bulk Santos,to an unaffiliated third party.

The Oslo Børs-listed newcastlemax shipowner said it had agreed to offload the vessels for a total consideration of $145.5m.

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

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

Meanwhile, the shipowner expects to recognize a net book gain of approximately $61m upon completion of the transactions.

The company’s board of directors will, subject to completion of the