Oslo-listed 2020 Bulkers has extended its fleet sell-off with the disposal of another newcastlemax bulker.

The Norwegian owner, set up by Tor Olav Trøim, said it has agreed to sell the 2020-built 208,000 dwt Bulk Sao Paulo for $72.75m to an undisclosed buyer. The company will retain the vessel’s operating cashflows until the transaction closes, which is expected in the first quarter of 2026.

The deal follows the sale of three similar vessels to Oman’s Asyad Shipping last month for a combined $209m. Once the Bulk Sao Paulo changes hands, 2020 Bulkers will be down to its final two newcastlemaxes.

Led by CEO Lars-Christian Svensen, the company launched with a series of modern, scrubber-fitted newcastlemaxes but has shifted focus toward returning capital to shareholders through asset sales.

Last year, the company also sold two 2019-built vessels for $127.5m, locking in significant gains from a firm secondhand market. The latest sale is expected to generate a net book gain of around $29m upon completion.