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Scorpio Bulkers announces the sale of two Kamsarmax vessels

Logistic News - Published on Thu, 14 Mar 2019

Image Source: www.tsuneishi.co.jp
Scorpio Bulkers Inc entered into agreements to sell two Kamsarmax vessels for $48 million and provided an update to Time Charter Equivalent rates for the first quarter of 2019. The Company has entered into agreements with unaffiliated third parties to sell the SBI Electra and SBI Flamenco, two 2015 Chinese built Kamsarmax vessels, for approximately USD 48 million in aggregate. Delivery of the Vessels is estimated to take place in the second quarter of 2019. It is estimated that the Company’s liquidity will increase by approximately $18.6 million after the repayment of the Vessels’ outstanding debt.

Emanuele Lauro said that “After a down-trending month of January and a very weak February, time charter rates have consistently improved for the last few weeks as demonstrated by the BPI and BSI indexes.”

Source :

Posted By : Ratan Singh on Thu, 14 Mar 2019
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