Scorpio Bulkers Finds Work for Three Ships

NYSE-listed dry bulk owner and operator Scorpio Bulkers has reached agreements to charter out three bulk carriers, including two Ultramax vessel and one Kamsarmax.

Namely, the company’s 61,614 dwt Ultramax SBI Leo will be chartered out for a period of 5 to 7 months, earning USD 9,000 per day, while the second Ultramax SBI Achilles will earn USD 11,000 per day for a period of 6 to 8 months.

Additionally, Scorpio Bulkers’ 81,129 dwt Kamsarmax SBI Cakewalk will be chartered out for 5 to 8 months for USD 9,000 per day.

In late October, the owner of 41 vessels, consisting of 15 Kamsarmaxes and 26 Ultramaxes, said that it managed to narrow its net loss for the first nine months of 2016 to USD 104.2 million, compared with a net loss of USD 208.7 million seen in the corresponding period a year earlier.

The company’s operating loss for the nine-month period stood at USD 86.6 million, against an operating loss of USD 200.4 million seen in the same period in 2015.

During the third quarter of the year, the company reached agreements with shipyards to reduce the price to be paid under the shipbuilding contracts of four Kamsarmax vessels and two Ultramax vessels that were to be delivered between the third quarter and the fourth quarter of 2016 by an aggregate of USD 13 million.

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