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Scorpio Bulkers seals Japanese sale and leaseback for ultramax

Photo of Grant Rowles Grant RowlesApril 18, 2018
20 Less than a minute

Scorpio Bulkers is selling its 2015-built ultramax SBI Tango to an unaffiliated third party in Japan for $19m.

The vessel is being leased back by Scorpio on a five-year bareboat charter at $5,400 per day, and the transaction includes options for Scorpio to buy back the vessel from year three onwards.

Scorpio said that deal will increase its liquidity by around $10.3m after repayment of the exisiting loan attached to the vessel.

Last October, Scorpio entered into a similar deal for 2015-built kamsarmax SBI Rumba selling it for $19.6m and taking it back on a 9.5-year bareboat charter.

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Photo of Grant Rowles Grant RowlesApril 18, 2018
20 Less than a minute
Photo of Grant Rowles

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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