Scorpio Bulkers Secures Loan to Finance Scrubbers

BulkerIllustration. Image Courtesy: PxHere under CC0 Creative Commons license

Monaco-based dry bulk shipping company Scorpio Bulkers has agreed with certain lenders to increase certain existing credit facilities by a total of USD 41 million.

The company reached the agreement in order to finance the installation of exhaust gas cleaning systems (scrubbers) on certain of its vessels.

Scorpio Bulkers said that the additional amounts will be drawn upon the installation of the scrubbers on the respective vessels.

These are structured as upsizings of existing credit facilities and have loan margins matching the loan margins on the respective existing credit facilities, the company added.

The financing arrangements will be subject to conditions precedent and the execution of definitive documentation.

In December 2018, Scorpio Bulkers signed a deal to purchase hybrid-ready scrubbers for a total of 28 of its vessels. Under the deal, the company would equip 18 vessels with scrubbers in 2019 and another 10 in 2020.

The total value of these contracts was estimated to be around USD 42.4 million.

Scorpio Bulkers also has an option to purchase the equipment for a further 18 vessels in 2020.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 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 31 1 2 3 4 5

The 9th Annual Event Green Shiptech China Congress 2020

The 9th Annual Event- Green Shiptech China Congress 2020 will be held on next…

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 >

Maritime Reconnaissance and Surveillance Technology

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

read more >

2nd GREENTECH IN SHIPPING GLOBAL FORUM

Forum you will find out from the regulators, government bodies and major ports’ representatives what the near…

read more >