Scorpio Sells Two Ultramax Bulkers

September 23, 2019

Scorpio Bulkers Inc. (NYSE:SALT) (“Scorpio Bulkers) has announced that the company has entered into agreements with an unaffiliated third party to sell the SBI Puma and SBI Cougar, 2014 and 2015 built Ultramax vessels, respectively, for approximately $37.9 million in aggregate, generating $16.0 million of additional liquidity.

As of June 30, 2019, these vessels were classified as held for sale, with delivery of the vessels to the buyer estimated to take place within October 2019. The company recorded a loss of approximately $4.9 million in the second quarter of 2019 and expects to write-off deferred financing costs of $0.2 million upon closing of the sale and repayment of $21.9 million of outstanding debt.

Logistics News

Rotterdam's Offshore CO2 Pipeline Completed

Rotterdam's Offshore CO2 Pipeline Completed

Turkey Bars Israeli Ships From Its Ports

Turkey Bars Israeli Ships From Its Ports

Eighth Island Class Vessel Joins BC Ferries

Eighth Island Class Vessel Joins BC Ferries

Vattenfall Secures Dutch Base to Support Germany’s Largest Offshore Wind Farm

Vattenfall Secures Dutch Base to Support Germany’s Largest Offshore Wind Farm

Subscribe for Maritime Logistics Professional E‑News

The incident was reported by maritime agencies southwest of Yanbu, the Red Sea port in Saudi Arabia
Greece and Germany bust cocaine smuggling rings across Europe
Manager says that the tanker near Saudi Arabia's coast was not damaged and is under the captain's control, despite Houthis claiming attack.