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Scorpio sells three Ultramax bulkers in a single week

Written by Nick Blenkey
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Emanuele A. Lauro, Chairman and CEO, Scorpio Bulkers

Continuing its drive to transition into offshore wind vessels, Emanuele Lauro’s Scorpio Bulkers Inc. (NYSE: SALT) today said that it had entered into an agreement with an unaffiliated third party to sell the SBI Hera, an Ultramax bulk carrier built in 2016, for approximately $18.5 million. Delivery of the vessel is expected to take place in the fourth quarter of 2020. That marked Scorpio’s third Ultramax sale this week, coming hard on the heels of an announcement yesterday that it had entered into agreements with an unaffiliated third party to sell SBI Phoenix and SBI Samson, two Ultramax bulk carriers built in 2017 for approximately $34 million. Delivery of those vessels is also expected to take place in the fourth quarter of 2020.

Prior to the Ultramax sales, the company had announced the sales of three Kamsarmax vessels, the 2015-built SBI Conga for $18.4 million, the 2016-built SBI Sousta for approximately $18.5 million and the first ship in what is now becoming a parade of disposals, the 2016-built SBI Rock for a price slightly in excess of $18 million.

The sales come after August’s news that Scorpio had signed a letter of intent (LOI) with South Korea’s Daewoo Shipbuilding and Marine Engineering Inc, covering the construction of a large Wind Turbine Installation Vessel (WTIV) with options for additional vessels.

Commenting on the SBI Rock sale, Emanuele Lauro said, “Last month we announced a new direction for Scorpio Bulkers — offshore wind as a sustainable business opportunity. This sale represents a step, one of the many deliberate steps we must take, in our transition.”

Categories: Markets, News, ShippingTags: bulk carriers, Emanuele Lauro, offshore wind, Scorpio Bulkers

Read source:  https://www.marinelog.com/shipping/scorpio-sells-three-ultramax-bulkers-in-a-single-week/

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