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Scorpio Bulkers gets $13m price cut on six newbuilds, delays deliveries

Scorpio Bulkers gets $13m price cut on six newbuilds, delays deliveries
Scorpio Bulkers has knocked $13m of the price of six newbuildings and also delayed their delivery of the vessels.

The New York Stock Exchange-listed shipowner said it had reduced the price of four kamsarmax and two ultramax newbuildings to be delivered in Q3 and Q4 of this year by $13m.

It also negotiated to delay the delivery of the same six vessels by one to three months. This pushes delivery of the newbuilds from between September and November 2016 to between October 2016 and January 2017.

This provides for some short term financial relief for Scorpio Bulkers with $59.1m previously expected to paid to shipyards in Q4 2016 pushed to Q1 2017.