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Scorpio Bulkers refinances kamsarmax via sale and leaseback deal

Monaco-headquartered Scorpio Bulkers has entered into a financing transaction to sell one of its kamsarmax bulkers and lease it back for a five-year period.

Scorpio is selling 2015-built Japanese built kamsarmax dry bulk vessel SBI Samba for $21.4m. It will then lease the vessel back from the buyer via a five-year bareboat charter agreement at $6,850 per day.

After three years, and through to the end of the charter, Scorpio has the option to repurchase the vessel

Scorpio said it will bank around $6.9m from the deal after repayment of the vessel’s existing loan.

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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