Scorpio Tankers will pay $51m for the four contracts it has bought, and has options until May 2015 to buy the other two ships for $52.5m each.
The switch and sale of the contracts is expected to cost Scorpio Bulkers $41m for the four ships already sold, and a further $14m should Scorpio Tankers buy the remaining pair of ships.
The deal sheds $120m of payment obligations from the dry bulk outfit's books.
Emanuele Lauro, chairman and ceo of both Scorpio Tankers and Scorpio Bulkers, commented "We have taken these actions to strengthen our liquidity position[at Scorpio Bulkers]. We will continue to be proactive in further strengthening our balance sheet."
Scorpio Tankers also announced that it has sold three vessels, two LR1s and a post-panamax for around $74m to third parties, writing down $2.6m in the process.
Scorpio Bulkers owns two kamsarmaxes, time charters-in 22 dry bulk vessels and has 72 dry bulk vessels on order.
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