Oslo-listed 2020 Bulkers has made its first profit from operations as it put two newbuildings to work.
The company also declared its first cash dividend of $0.055 per share.
Net earnings in the third quarter were $0.8m, from only 65 operational ship days, against a loss of $0.2m in 2018.
Revenue from its two Newcastlemaxes was $2.2m,
