Scorpio Bulkers Enters Newbuilding Agreements for 22 Dry Bulk Vessels

January 7, 2014

Scorpio Bulkers Inc. announced yesterday that it has entered into agreements for the purchase of twenty Capesize dry bulk vessels and two Kamsarmax dry bulk vessels.

The purchased vessel are listed below:

Yard	DWT	Delivery
Shanghai Waigaoqiao Shipbuilding Co., Ltd	180,000	Q1-15
Shanghai Waigaoqiao Shipbuilding Co., Ltd	180,000	Q2-15
Shanghai Waigaoqiao Shipbuilding Co., Ltd	180,000	Q3-15
Shanghai Waigaoqiao Shipbuilding Co., Ltd	180,000	Q4-15
Shanghai Waigaoqiao Shipbuilding Co., Ltd	180,000	Q1-16
Shanghai Waigaoqiao Shipbuilding Co., Ltd	180,000	Q2-16
Shanghai Waigaoqiao Shipbuilding Co., Ltd	180,000	Q3-16
Sungdong Shipbuilding & Marine Engineering Co., Ltd	180,000	Q2-15
Sungdong Shipbuilding & Marine Engineering Co., Ltd	180,000	Q3-15
Sungdong Shipbuilding & Marine Engineering Co., Ltd	180,000	Q3-15
Sungdong Shipbuilding & Marine Engineering Co., Ltd	180,000	Q3-15
Sungdong Shipbuilding & Marine Engineering Co., Ltd	180,000	Q4-15
Sungdong Shipbuilding & Marine Engineering Co., Ltd	180,000	Q4-15
Sungdong Shipbuilding & Marine Engineering Co., Ltd	180,000	Q1-16
Sungdong Shipbuilding & Marine Engineering Co., Ltd	180,000	Q1-16
Sungdong Shipbuilding & Marine Engineering Co., Ltd	180,000	Q2-16
Sungdong Shipbuilding & Marine Engineering Co., Ltd	180,000	Q2-16
Sungdong Shipbuilding & Marine Engineering Co., Ltd	180,000	Q2-16
Daewoo Mangalia Heavy Industries S.A.	180,000	Q1-16
Daewoo Mangalia Heavy Industries S.A.	180,000	Q2-16
Hudong-Zhonghua (Group) Co., Ltd	82,000	Q1-16
Hudong-Zhonghua (Group) Co., Ltd	82,000	Q2-16

The total purchase price for the vessels is approximately $1,171 million.

Scorpio Bulkers, January 7, 2014