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Scorpio Bulkers acquires six ultramax vessels

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Dry Bulk,

Scorpio Bulkers Inc. has entered into an agreement with an unaffiliated third party to acquire six ultramax dry bulk vessels for US$142.5 million in the aggregate, which will be funded by cash on hand, as well as existing and new debt facilities that are currently under discussion with their lenders.

All of the ultramax vessels were built in China, of which three were delivered in 2015, one was delivered in 2016, and two were delivered in 2017.

Scorpio Bulkers Inc., after this acquisition, will own 52 vessels, consisting of 18 kamsarmax vessels and 34 ultramax vessels. The company has agreed to time charter-in one ultramax vessel. The owned fleet will have a total carrying capacity of approximately 3.6 million DWT.

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