Newcastlemax owner 2020 Bulkers logged a profitable start to this year, but its results show seasonally softer earnings.
The Oslo-listed shipowner reported net income of $5.9m for the first quarter of 2022, equivalent to $0.27 in basic earnings per share.
This is up by $100,000 compared to the first three months of 2021.
The firm has declared total cash distributions of $0.26
