Scorpio Bulkers Agrees Refinancing for Kamsarmax

FinancingIllustration. Image Courtesy: Pixabay under CC0 Creative Commons license

Monaco-based dry bulk shipping company Scorpio Bulkers has reached a financing agreement with an unaffiliated third party related to one of its Kamsarmax vessels.

Under the deal, the company would dispose of a 2015-built Kamsarmax bulker SBI Samba for a consideration of USD 21.4 million.

The vessel would subsequently be leased back from the buyer through a five-year bareboat charter agreement at a rate of USD 6,850 per day.

Scorpio Bulkers said that the transaction also provides the company with the option to repurchase the vessel beginning on the third anniversary of the sale until the end of the bareboat charter contract.

“This transaction increases the company’s liquidity by approximately USD 6.9 million after repayment of the vessel’s existing loan,” Scorpio Bulkers concluded.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Nov 2019 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >

CrewConnect Global 2019

CrewConnect Global is the leading forum for collaboration to advance new industry approaches to seafarer recruitment and training.

read more >

CruiseConnect Global 2019

Attend CrewConnect Global and stay on for the CruiseConnect Summit to take part in an industry-wide conversation focused…

read more >

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >