Scorpio Bulkers signs multiple agreements on dry bulk vessels

26 March 2014 (Last Updated March 26th, 2014 18:30)

Monaco-based marine transportation provider Scorpio Bulkers has signed multiple agreements on dry bulk vessels.

Monaco-based marine transportation provider Scorpio Bulkers has signed multiple agreements on dry bulk vessels.

The contracts include the purchase of four Capesize dry bulk vessels for approximately $306m, the construction of one Capesize dry bulk vessel and a time charter-in for seven dry bulk vessels.

The four 180,000dwt Capesize dry bulk vessels for purchase are currently at Daehan Shipbuilding in South Korea, while the Capesize 180,000dwt new-build vessel will be constructed at Sungdong Shipbuilding & Marine Engineering, also in South Korea.

"The contracts include the purchase of four Capesize dry bulk vessels for approximately $306m."

The purchase deal for the four vessels is subject to customary closing conditions and they will be delivered between the third quarter of 2015 and first quarter of 2016.

The Sungdong vessel will be delivered by the second quarter of 2015.

The vessels are being contracted under a combination of single time charter-in contracts, and extended time charter-in contracts which have the option for additional months or years to follow.

A 2011-built Post-Panamax, 2009-built Kamsarmax, 2007-built Panamax and 2011-built Supramax vessels were delivered to respective parties throughout March.

A 2012-built Kamsarmax and 2002-built Handymax are expected to be delivered by the end of April, while the 2004-built Panamax is expected by June.