2020 Bulkers announced that it has agreed to sell its 2020 built Newcastlemax vessels, Bulk Sydney and Bulk Santos to an unaffiliated third party for $145.5 million.
2020 Bulkers said it will retain the vessels’ operating cashflows until closing of transactions, which is expected to take place during first quarter of 2026.
Upon completion, the company expects to recognize a net book gain of about $61 million.