Scorpio Bulkers books Net Loss
USA-Monaco based bulk carrier Scorpio Bulkers has reported a loss of $24.7 million in its second quarter of 2016, pushing the carrier's deficit up to $ 83 million.
The New York-listed dry bulk ocean shipper posted revenue of $17.4 million in the period.
However, the liner's second quarter red ink not as dark as analysts had forecast. The results topped Wall Street expectations, says AP.
The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 54 cents per share. The company said it had a loss of 48 cents per share.
During the second quarter of 2016, the Company raised net proceeds of approximately $67.5 million through the issuance of 23 million shares of common stock at $3.05 per share. Scorpio Services Holding Limited purchased an aggregate of 5,250,000 common shares at the public offering price.
Scorpio Bulkers Inc. is a provider of marine transportation of dry bulk commodities. Scorpio Bulkers Inc. currently owns 38 vessels, consisting of 14 Kamsarmax vessels and 24 Ultramax vessels.
