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Scorpio Bulkers exits capesize sector

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

Scorpio Bulkers called time on its ambitions in the capesize dry bulk sector just before the end of 2015 selling three existing vessels in its fleet and two new buildings under construction. The three existing vessels were delivered to an undisclosed new owner in 2015 and the newbuilding are due for delivery in the first quarter of 2016.

With a price tag of $167m in total the move sees the once rapidly expanding Scorpio Bulkers exiting the capesize sector.

The company currently owns a fleet of 25 vessels comprising 10 kamsarmaxes and 15 ultramaxes and has a further 24 newbuildings on order comprising 11 kamsarmaxes and 13 ultramaxes.