Daewoo Mangalia Seals Deal for Three Capesizes

Scorpio Bulkers Inc. has reached an agreement with Daewoo Shipbuilding and Marine Engineering Co., Ltd. (DSME) to build three Capesize dry bulk vessels.

Daewoo Mangalia Heavy Industries S.A. in Romania, a subsidiary of DSME, will be responsible for the construction of the vessels.

Two vessels are scheduled for delivery in Q4-15 and one in Q1-16.

The total purchase price for the vessels is around $162 million.

Scorpio Bulkers so far contracted and agreed to purchase 26 “Ultramax”-size and 10 “Kamsarmax”-size newbuilding dry bulk vessels to be delivered starting from the first quarter of 2015 from shipyards in Japan and China.

[mappress]

Press Release, November 19, 2013