Scorpio Bulkers has announced a sell and leaseback deal involving six ultramax vessels with China’s Avic International Leasing.

Scorpio Bulkers, which along with sister company Scorpio Tankers, has taken a major bet on scrubbers to comply with the IMO’s 2020 low sulphur regulations is assuming a price spread of $250 per tonne between high and low sulphur fuel once the limit is in force.

The dry bulk shipping arena’s upward trajectory is continuing and as earnings season for Q3 2017 results have continued onward, equity analysts were turning more positive.

Dry bulk shipping is all the rage. Consider that Scorpio Bulkers (SALT), a bellwether of the sector, has seen its share price strengthen with the seemingly improved dry bulk market.

China’s financial leasing institutions are stepping up their game in shipping becoming more flexible and competitive in their deal terms compared to traditional bank lendings, according to Western shipowners.

Scorpio Bulkers has reduced its loss for the first quarter compared to the year-ago deficit, thanks to a surge in revenue from higher charter rates under improving operating conditions in the dry bulk shipping market.

Capital Link’s 2017 Shipping Conference, now in its 11th year, drew a standing-room only crowd, with financial industry participants greatly outnumbering shipping people.

Scorpio Bulkers net loss widened in Q1 to $58.2m vastly outstripping revenues.

The most ambitious gamble on the dry bulk in recent years – Scorpio Bulkers – lost over half a billion dollars in 2015.

Scorpio Bulkers has quit the capesize sector selling five vessels for $167m.

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