Benzinga | Sep 28, 2020 04:24PM EDT

Scorpio Bulkers Inc. Announces The Sale Of Kamsarmax Vessel For ~$18M

MONACO, Sept. 28, 2020 (GLOBE NEWSWIRE) -- Scorpio Bulkers, Inc. (NYSE:SALT) (the "Company") announced today that the Company has entered into an agreement with an unaffiliated third party to sell the SBI Rock, a 2016 built non-scrubber-fitted Kamsarmax vessel, for a price slightly in excess of $18 million. Delivery of the vessel is expected to take place in the fourth quarter of 2020. The sale is expected to generate additional liquidity of approximately $5 million. In addition, the Company will save approximately $1 million in budgeted drydocking costs during the first quarter of 2021.



Emanuele Lauro, Chairman and CEO, commented "Last month we announced a new direction for Scorpio Bulkers- offshore wind as a sustainable business opportunity. This sale represents a step, one of the many deliberate steps we must take, in our transition."