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Scorpio Bulkers sells kamsarmax as it looks to offshore wind

Photo: Pete Linforth - Pixabay sell Pete Linforth - Pixabay.jpg
Scorpio Bulkers has sold a kamsarmax bulker for $18m as it looks to transition it business to offshore wind.

The New York Stock Exchange listed shipowner said that it had sold the 2016-built kamsarmax SBI Rock for $18m with delivery of the vessel to an undisclosed new owner in Q4 this year.

Emanuele Lauro, chairman and ceo of Scorpio Bulkers, commented “Last month we announced a new direction for Scorpio Bulkers- offshore wind as a sustainable business opportunity.   This sale represents a step, one of the many deliberate steps we must take, in our transition.”

In early August the company announced its plans to move into the offshore wind market with the signing of a Letter of Intent (LoI) for the construction of a wind turbine installation vessel, plus options, at Daewoo Shipbuilding and Marine Engineering (DSME).

Scorpio Bulkers said the sale of the SBI Rock would generate additional liquidity of approximately $5m and save $1m in drydocking costs in Q1 2021.

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