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Scorpio Bulkers sells five newbuilds for $236m

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

The three capesizes are under construction in China and will be delivered in the first half of 2016. The LR2 product tankers are being built in Romania and are expected in late 2016 and early 2017.

The sale follows a similar offloading of newbuilds in April, when the company sold seven vessels for a total of $290m and then a further three vessels the following week for $111m. The company went on to say later that month that it was looking to sell off further newbuilding contracts as the dry bulk market remained depressed.