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Scorpio Bulkers Inc. announces the sale of two Ultramax vessels for US$37.9 million

Published by , Editorial Assistant
Dry Bulk,

Scorpio Bulkers Inc. has announced that the company has entered into agreements with an unaffiliated third party to sell the SBI Puma and SBI Cougar, 2014 and 2015 built Ultramax vessels, respectively, for approximately US$37.9 million in aggregate, generating US16.0 million of additional liquidity.

As of 30 June 2019, these vessels were classified as held for sale, with delivery of the vessels to the buyer estimated to take place within October 2019. The company recorded a loss of approximately US$4.9 million in the second quarter of 2019 and expects to write-off deferred financing costs of US$0.2 million upon closing of the sale and repayment of US$21.9 million of outstanding debt.

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