Scorpio Offloads Bulker Trio

Monaco-based dry bulk shipping company Scorpio Bulkers has entered into agreements to sell three bulker vessels for approximately USD 53.5 million in aggregate.

The ships in question are SBI Jaguar and SBI Taurus, 2014 and 2015 built Ultramax vessels, respectively, and the SBI Bolero, a 2015 built Kamsarmax vessel.

SBI Taurus was sold to Oman Shipping Company.

According to Scorpio, none of the three vessels have been fitted with scrubbers.

Delivery of the vessels is expected to take place between March and May of 2020.

It is estimated that the company’s liquidity will increase by approximately USD 18.3 million after the repayment of outstanding debt.

Upon the completion of the sale, Scorpio Bulkers will have an operating fleet of 55 vessels consisting of 49 wholly-owned or finance leased drybulk vessels and six time chartered-in vessels.

Scorpio said that during the first quarter of 2020, dry bulker rates for its Kamsarmax fleet were approximately USD 10,000 per day on average for 80% of days, while its Ultramax fleet is earning approximately USD 9,000 per day on average for 90% of days.

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