Scorpio Bulkers Inc (NYSE: SALT) has actually consented to offer and also leaseback 3 Ultramax vessels ( SBI Pegasus, SBI Subaru and also SBI Ursa) and also 4 Kamsarmax vessels ( SBI Lambada, SBI Macarena, SBI Carioca and also SB I Capoeira) to CMB Financial Leasing Co.,Ltd
The firm states that when the bargain finishes, approximated to be in the 2nd quarter of 2019, it anticipates its liquidity to boost by $57.2 million in accumulation, containing $45.4 million on closing after the payment of arrearage and also an extra tranche of approximately $11.8 million for setup of scrubbrts on the 7 vessels.
Scorpio will certainly bareboat charter-in the vessels for a duration of 7 years and also has acquisition alternatives starting after completion of the 3rd year of each arrangement. There is likewise an acquisition choice for each and every vessel upon the expiry of each arrangement.
Scorpio Chairman and also CHIEF EXECUTIVE OFFICER Emanuele Lauro commented, “We have undertaken a number of initiatives recently to enhance our liquidity. This transaction represents a single and important step, but we will continue to take actions which strengthen our balance sheet and, as importantly, address the valuation of our stock.”
