For around $27m each, Scorpio has signed for ultramax vessels ranging between 62,000 dwt and 64,000 dwt from ChengXi Shipyard, Dalian COSCO KHI Ship Engineering, and Nantong COSCO KHI Ship Engineering.
Delivery of the 11 firm newbuildings will be spread from the first quarter 2015 to the first quarter of 2016, with the three options to deliver in the second and third quarters of 2016 if confirmed.
A newcomer to the dry bulk market, Scorpio Bulkers was born in the shadow of order-hungry sister company Scorpio Tankers and is listed on the Norwegian OTC exchange. The company bagged $250m in an equity issue of 31.25m shares at $8 each, the placement was managed by RS Platou Markets and a listing on the New York Stock Exchange is expected within 6-12 months.
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