Monaco-headquartered Scorpio Bulkers has entered into a sale and leaseback deal with an unnamed Japanese party for 2015-built kamsarmax SBI Rumba.
Scorpio has sold the vessel for $19.6m and taken it back on a 9.5-year bareboat charter, which includes an option to extend for a further six months.
The deal is equivalent to a fixed interest rate of 4.24% for 10 years, while Scorpio also has options to repurchase the vessel beginning from five years into the charter and onwards. Scorpio says the transaction improves its liquidity by around $6m after commissions and repayment of the vessel’s loan are taken into account.
Last week, Scorpio Bulk secured $85.5m financing for its acquisition of six ultramaxes from John Fredriksen’s Golden Ocean.