Dry CargoEurope

Scorpio Bulkers sell-off hits 20 ships as ultramax pair sold to M/Maritime

Monaco’s Scorpio Bulkers has announced the sale of 2016-built ultramax bulkers SBI Poseidon and SBI Apollo.

The Japanese-built pair, built at Mitsui Ichihara, were sold for a total price of $38.4m and delivery is scheduled for the first quarter of 2021. The vessels have a market value of $39.23m according to VesselsValue.

Separately, Greek dry bulk owner M/Maritime announced the acquisition of the two vessels yesterday, increasing its fleet size to 19 vessels.

The sale comes within 24 hours of Scorpio offloading the 2015-built ultramax bulker SBI Gemini for $16m and a few days after the sale of four ultramaxes to Hong Kong’s Pacific Basin.

Since announcing plans to move into the offshore wind sector in August, Scorpio has sold 20 bulkers and is down to a fleet of just 29 vessels.

The company has openly said it plans to sell its entire fleet as part of its move into offshore wind. Emanuele Lauro told Maritime CEO in an interview recently that the decision to pivot was taken as dry bulk was a sector it could not dominate, unlike wind installation or the product tanker sector where it has led consolidation in recent years.

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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