Scorpio Bulkers Sells Three New Bulk Carriers To Repay Debts

- Mar 13, 2020-

The Monaco bulk carrier, Scorpio bulkers, has sold three bulk carriers for a total price of about $53.5 million.


The three ships are the Ultramax bulk carrier "SBI Jaguar" built in 2014 and 2015, "SBI Taurus" and the kamsarmax bulk carrier "SBI Bolero" built in 2015. Among them, "SBI Taurus" was sold to Oman shipping company.


Scorpio bulkers said none of the three ships had a scrubber installed and was expected to deliver it to the new owners between March and may 2020.


Liquidity for Scorpio bulkers is expected to increase by approximately $18.3 million after debt service.


Upon completion of the sale, Scorpio bulkers will have 55 vessels, including 49 wholly owned or finance leased bulk carriers (16 kamsarmax and 33 Ultramax) and 6 time charter vessels (5 kamsarmax and 1 Ultramax). The total transportation capacity of its own and financial leasing fleet is about 3.4 million dwt.


Scorpio bulkers said that in the first quarter of 2020, the average freight rate of its kamsarmax bulk carrier fleet was about $10000 per day and the fleet utilization rate was about; while the average freight rate of its Ultramax bulk carrier fleet was about $9000 per day and the fleet utilization rate was about 90%.