Norwegian dry bulk operator 2020 Bulkers has signed agreements to sell three of its Newcastlemax bulk carriers to an undisclosed third party for a combined value of $209 million.
The transaction covers the Bulk Sandefjord and Bulk Santiago, both built in 2019, and the Bulk Shenzhen, built in 2020. The company said each sale is subject to standard closing conditions.
According to 2020 Bulkers, it will continue to receive operating cashflows from the vessels until each transaction closes. The deals are scheduled to be finalised during the first quarter of 2026.
The company stated it expects to record a net book gain of about $89 million once the transactions are completed.
The board of directors of 2020 Bulkers will decide on how to allocate the proceeds from the sales once they are finalised.
Following the divestment, 2020 Bulkers stated that it will have six Newcastlemax dry bulk carriers in operation, all fitted with exhaust scrubber systems.
