Scorpio Bulkers Confirm Further Dry Bulkship Newbuildings

Scorpio Bulkers Inc. has entered into agreements for the purchase of six Kamsarmax dry bulk vessels and two Ultramax dry bulk vessels, as listed below:

Shipbuilders
Shanghai Waigaoqiao Shipbuilding Co.    82,000 dwt        Q2-14  delivery date  
Shanghai Waigaoqiao Shipbuilding Co.    82,000              Q3-14    
Jiangsu Yangzijiang Shipbuilding Co.       82,000               Q3-15    
Jiangsu Yangzijiang Shipbuilding Co.       82,000               Q3-15    
Jiangsu Yangzijiang Shipbuilding Co.       82,000               Q4-15    
Jiangsu Yangzijiang Shipbuilding Co.       82,000               Q1-16    
Mitsui Engineering & Shipbuilding Co.      60,200               Q3-16    
Mitsui Engineering & Shipbuilding Co.      60,200               Q3-16    

The total purchase price for the vessels is approximately $242 million.

Scorpio Bulkers Inc. is a provider of marine transportation of dry bulk commodities. Scorpio Bulkers Inc. has contracted and agreed to purchase 28 Ultramax, 16 Kamsarmax and three Capesize newbuilding dry bulk vessels to be delivered starting from the second quarter of 2014 from shipyards in Japan, China and Romania.