Oslo, Norway, February 7, 2024

2020 Bulkers Ltd. ("2020 Bulkers" or the "Company"), today announced its
unaudited financial and operating results for the three and twelve months ended
December 31, 2023.

Key events during the fourth quarter of 2023

  · The Company reported net profit of US$14.8 million and EBITDA of US$20.7
million for the fourth quarter of 2023.

  · Achieved average time charter equivalent earnings of approximately US$36,300
per day, gross.

  · The Company declared total cash distributions and dividend of US$0.59 per
share for the months of October, November and December 2023.

Subsequent Events

  · Achieved average time charter equivalent earnings for January 2024 of
approximately US$27,100, per day, gross.

  · In February 2024, the Company declared a dividend of US$0.10 per share for
January  2024.

The Board of Directors Report, the Condensed Consolidated Financial Statements
and the Q4 2023 Presentation are available in the enclosed files.

About 2020 Bulkers Ltd.

2020 Bulkers Ltd. is a limited liability company incorporated in Bermuda on 26
September 2017. The Company's shares are traded on Oslo Børs under the ticker
"2020".

2020 Bulkers is an owner and operator of large dry bulk vessels. The Company has
eight Newcastlemax dry bulk vessels in operation.

February 7, 2024

Board of Directors

2020 Bulkers Ltd.

Oslo, Norway