Scorpio Bulkers refinances kamsarmax vessel

Published by Nicholas Woodroof, Editor
Dry Bulk, Thursday, 28 February 2019 09:00

Scorpio Bulkers Inc. has entered into a financing transaction in respect of one of the company’s kamsarmax vessels with an unaffiliated third party.

As part of the transaction, the company will sell a 2015 Japanese built kamsarmax dry bulk vessel, SBI Samba, for a consideration of US$21.4 million and then lease it back from the buyer through a five-year bareboat charter agreement at a rate of US$6850 per day.

The transaction also provides the company with the option to repurchase the vessel beginning on the third anniversary of the sale until the end of the bareboat charter agreement. This transaction increases the company’s liquidity by approximately US$6.9 million after repayment of the vessel’s existing loan.

Read the article online at: https://www.drybulkmagazine.com/shipping/28022019/scorpio-bulkers-refinances-kamsarmax-vessel/

Bearing AI launches first AI-powered planning tool for shipping liners

Thursday 18 April 2024 09:06

Bearing AI has announced the launch of the first AI-powered planning tool for shipping liners to simulate the cost, emissions and performance impact of operational and commercial decisions.

You might also like