World News
Scorpio Bulkers Unloads 10 Newbuilds for $401 Million
Scorpio Bulkers Inc. in announcements on April 21 and April 27 says it is selling 10 newbuild vessels for a total of $401-million.
This follows Scorpio announcing in December 2014 that it would sell four Capesize newbuilds in order to shed around $120-million of financing need, a move caused by an 80 percent share price plunge and overcapacity in the dry bulk markets.
The latest sale includes a Kamsarmax newbuilding dry bulk vessel currently being built in China, and three LR1 newbuilding product tankers under construction in South Korea.
The vessels have delivery dates of between the end of 2015 through to the third quarter of 2017.
Under the earlier deal, Scorpio also received financing on an Ultramax newbuilding dry bulk vessel being built in Japan for up to $17-million.
In December Deutsche Bank said Scorpio Bulkers faced a tough 2015 but having been "the stock-of-choice for U.S. investors to invest in the dry bulk sector."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.00 | 6.00 | 762.00 | 5.50 |
| Rotterdam | 599.00 | 1.00 | 751.00 | 0.50 |
| Houston | 618.00 | 11.50 | 802.50 | 6.50 |
| Fujairah | 642.00 | 5.50 | 883.50 | 5.50 |
| Global 20 Ports Average | 661.50 | 3.50 | 859.00 | 5.00 |
| Global 4 Ports Average | 629.50 | 1.00 | 799.50 | 1.50 |
| Global Average Bunker Price | 719.00 | 3.50 | 915.00 | 7.50 |
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