Scorpio Bulkers Offloads Ultramax Pair

Monaco-based dry bulk shipping company Scorpio Bulkers is selling two of its Ultramax vessels, SBI Puma and SBI Cougar.

On September 23, 2019, the company said it entered into agreements with an unnamed party to dispose of the bulker duo.

The 2014-built SBI Puma and the 2015-built SBI Cougar will be sold for about USD 37.9 million in aggregate, generating USD 16 million of additional liquidity, according to Scorpio.

The ships are expected to be delivered to their new owner within October 2019.

Scorpio Bulkers recorded a loss of USD 4.9 million in the second quarter of 2019 and expects to write-off deferred financing costs of USD 0.2 million upon closing of the sale and repayment of USD 21.9 million of outstanding debt.

Once the sale of the two Ultramaxes is complete, Scorpio Bulkers will have an operating fleet of 57 vessels comprising 52 wholly-owned or finance leased drybulk vessels and five time chartered-in vessels. The company’s owned and finance leased fleet will have a total carrying capacity of approximately 3.6 million dwt and all of the owned vessels will have carrying capacities of greater than 60,000 dwt.

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