Lars-Christian Svensen-led 2020 Bulkers has inked an agreement to sell the 2020-built newcastlemax vessel, Bulk Sao Paulo, to an unaffiliated third party.

The Oslo Børs-listed newcastlemax shipowner said it had agreed to offload the vessel for a total consideration of $72.75m.

The shipowner didn’t disclose the name of the buyer.

The company will retain the vessels’ operating cashflows until the closing of the transaction, 2020 Bulkers said in a filing, which is agreed to take place during the first quarter of 2026.

Meanwhile, the shipowner expects to recognize a net book gain of around $29m upon completion of the transaction.

The company’s board of directors will, subject to completion of the sale, determine the allocation of the net proceeds from the transaction.

As it is reported, the sale is subject to certain closing conditions, in line with industry standards.

Currently, 2020 Bulkers has six newcastlemax dry bulk vessels in operation. All vessels are fitted with exhaust scrubber systems.