Scorpio Bulkers Sells 3 Vessels

Maritime Activity Reports, Inc.

March 10, 2020

The provider of marine transportation of dry bulk commodities Scorpio Bulkers has entered into agreements with unaffiliated third parties to sell two ultramaxes and one kamsarmax for about $53.5 million in aggregate.

The vessels are the SBI Jaguar and SBI Taurus, 2014 and 2015 built Ultramax vessels, respectively, and the SBI Bolero, a 2015 built Kamsarmax vessel.

None of the three vessels have been fitted with scrubbers, said a press release from the Monaco-headquartered firms said.

Delivery of the vessels is expected to take place between March and May of 2020.

It is estimated that Scorpio Bulkers' liquidity will increase by approximately $18.3 million after the repayment of outstanding debt.

Upon the completion of the sale of the three vessels, Scorpio Bulkers Inc. will have an operating fleet of 55 vessels consisting of 49 wholly-owned or finance leased drybulk vessels (including 16 Kamsarmax vessels and 33 Ultramax vessels), and six time chartered-in vessels (including five Kamsarmax vessels and one Ultramax vessel).

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