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Scorpio Bulkers is selling off a further six capesizes as the dry bulk market remains highly depressed.

Scorpio Bulkers has narrowed its net loss to $16.3m in Q3, but remains $208m in the red for the first nine months of 2015.

Scorpio Bulkers has reported a $138.6m loss in the second quarter, bringing its first half loss up to a hefty $190.7m.

At the NYMAR post conference breakfast at the conclusion of the recent Marine Money Week in New York, the conference organisers revealed that, in the weeks prior to the event, as vessel hires and indices rivaled long-term low levels, there was some talk of cancelling the drybulk session altogether.

Scorpio Bulkers plans to sell $200m of its stock in a public offering, with the proceeds going towards newbuilding payments.

Scorpio Bulkers has announced it will sell three capesize newbuildings and two LR2 newbuildings for $236m.

Loss making Scorpio Bulkers is looking to sell more vessels, as it forecasts no dry bulk market recovery before second half 2016.

Scorpio Bulkers, having taken a huge punt on the dry bulk shipping market in 2013 - 14, reported a net loss of $52.1m in the first three months of 2015, from a $10.7m loss in the same period in the previous year, hit by write downs.

Scorpio Bulkers is continuing its fleet sell off in the face of one of the worst dry bulk shipping markets in history with the sale of three newbuildings for $111m.

Scorpio Bulkers has agreed to sell seven of its newbuilding contracts for a total of $290m, as the dry bulk market lingers in the doldrums.

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