Scorpio Bulkers announces acquisition of three Ultramax vessels and one Kamsarmax vessel
Scorpio Bulkers Inc.has entered into two separate agreements with unaffiliated third parties to acquire three Ultramax dry bulk vessels and one Kamsarmax dry bulk vessel for an aggregate of $90 million, of which $77.1 million is payable in cash and the remaining consideration is in the form of approximately 1.592 million common shares of Scorpio Bulkers to be issued to one of the sellers, the company said in its press release.
All of the Ultramax vessels were built at Chengxi Shipyard Co Ltd in China, of which two were delivered in 2014 and one was delivered in 2015. The Kamsarmax bulk carrier is a resale unit whose construction will be supervised by Scorpio Bulkers and which will be delivered from Jiangsu New Yangzijiang Shipbuilding Co Ltd in China in the second quarter of 2018.
The cash component of the vessel acquisitions will be funded by cash on hand, as well as new debt facilities which are currently under discussion with the Company’s lenders.
About Scorpio Bulkers Inc.
Scorpio Bulkers Inc. is a provider of marine transportation of dry bulk commodities. Scorpio Bulkers Inc., after the completion of its recent acquisitions of nine Ultramax vessels and one Kamsarmax vessel, will own or finance lease 56 vessels, consisting of 19 Kamsarmax vessels and 37 Ultramax vessels. Scorpio Bulkers also time charters-in one Ultramax vessel. The owned fleet will have a total carrying capacity of approximately 3.9 million deadweight tonnes upon the completion of the acquisition of the nine Ultramax vessels and one Kamsarmax vessel.