Scorpio Bulkers reduces vessel price for two shipbuilds
Published by Harleigh Hobbs,
Editor
Dry Bulk,
With reference to the existing newbuilding orders, Scorpio Bulkers Inc. has reached agreements with a shipyard to reduce the price to be paid under the shipbuilding contracts of two kamsarmax vessels that are to be delivered between 1Q17 and 2Q17 by an aggregate of US$4.9 million.
The company also announced that its Board of Directors has authorided the repurchase of up to US$20 million of the company's outstanding 7.5% senior notes due in 2019 in open market or privately negotiated transactions. The specific timing and amounts of the repurchases, which will be funded by available cash, will be in the sole discretion of management and vary based on market conditions and other factors. This authorisation has no expiration date.
Scorpio Bulkers Inc. currently owns 42 vessels, consisting of 16 kamsarmax vessels and 26 ultramax vessels. The company also time charters-in two dry bulk vessels (consisting of one panamax and one kamsarmax vessel) and has contracted for six dry bulk vessels consisting of four kamsarmax and two ultramax), from shipyards in China. Upon final delivery of all of the vessels, the owned fleet is expected to have a total carrying capacity of approximately 3.4 million DWT.
Read the article online at: https://www.drybulkmagazine.com/shipping/13122016/scorpio-bulkers-reduces-vessel-price-for-two-shipbuilds/
You might also like
Sumitomo Corporation, K LINE, and NYK Line conclude MoU for new-build ammonia bunkering vessel operations in Singapore
Sumitomo Corporation, Kawasaki Kisen Kaisha, Ltd. (K LINE), and NYK Bulkship (Asia) Pte. Ltd. (NYK Line) have entered into a memorandum of understanding to jointly conduct a Front-End Engineering Design study and explore the ownership of a new-build ammonia bunkering vessel (N-ABV) for application in Singapore.