Scorpio Bulkers Continues Newbuild Sell-off

New York-list Scorpio Bulkers has continued its sell-off of newbuild bulk carriers amid the worst dry bulk delivery market in many years.

Scorpio Bulkers Inc. (NYSE: SALT) introduced Monday that it has entered into agreements to promote two Capesize newbuilding dry bulk vessels and an Ultramax newbuilding dry bulk vessel for about $111 million in combination.

The Capesize vessels are presently being constructed in China and South Korea, and have anticipated supply dates between the third quarter of 2015 and the second quarter of 2016. The Ultramax vessel is presently being constructed in China and has an anticipated supply date within the first quarter of 2016.

The sale of the newbuilds follows final week’s introduced sale of seven newbuilding vessels – together with three Capesize vessels, one Kamsarmax vessel and three LR1 product tankers – for about $290 million.

With the sale of the three vessels announce Monday, Scorpio’s newbuild orderbook now totals 56 dry bulk vessels, consisting of 24 Ultramax, 19 Kamsarmax (together with one vessel held on the market), and 13 Capesize vessels, from shipyards in Japan, South Korea, and China. The firm has additionally contracted for six LR2 product tankers which might be presently categorised as held on the market, from shipyards in South Korea and Romania.

Since the drybulk market started its crash in This autumn 2014, Scorpio has offered shipbuilding contracts for a complete of 9 (modified) capesize vessels, a Karsarmax newbuilding, and the ten newbuildings talked about above.