Scorpio Bulkers fixes funds for Greathorse ultramax trio

Scorpio Bulkers fixes funds for Greathorse ultramax trio

Monaco-headquartered Scorpio Bulkers has sealed a new $38.7m loan facility from a European financial institution to finance up to 60% of the market value of its acquisition of three ultramax vessels from China’s Greathorse International Ship Management.

The loan facility has a final maturity of five years and bears interest at LIBOR plus 2.85% per annum.

Additionally, Scorpio has part financed the acquisition by modifying the contract with Greathorse for 2015-built Tiger Tianjin so that it will issue Greathorse 910,802 common shares in the company.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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