Dry Cargo

Scorpio Bulkers sells two capes and an ultramax

London: NYSE-listed Scorpio Bulkers has agreed to sell two new capesize bulk carriers and an ultramax for a combined $111m to an unknown buyer.

The two capes are currently under construction in China and in South Korea, and will be delivered between Q3 2015 and Q2 2016.

The ultramax bulk carrier is being built in China and will be delivered within the first three months of 2016, Scorpio says.

Scorpio has 62 bulk carriers being built at Chinese and South Korean yards, of which the Monaco-based yard sold 10 newbuildings in recents months.

Angeliccoussis-led Anangel Maritime bought three capes for $44m apiece in mid-April.

Last week, Scorpio Bulkers sold seven of its newbuildings – three capesizes and a kamsarmax bulk carriers, plus three LR1 product tankers – to an unnamed buyer for $290m in total. Analysts said the vessels were sold at a collective loss of around $62.5m.

In February, Scorpio elected to switch its order for three capes into these three LR1s at South Korea’s Sungdong shipyard, which incurred a $22m loss on its original order.

In addition to these vessels, Scorpio Bulkers has a further 10 capes under construction in China and South Korea, plus 20 more ultramaxes, 18 panamax and four supramax bulkers.


Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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