Scorpio Bulkers Cuts Vessels Price, Pushes Deliveries

Scorpio Bulkers NYSE-listed dry bulk owner and operator Scorpio Bulkers has reached agreements with shipyards to reduce the price to be paid under the shipbuilding contracts of four Kamsarmax vessels and two Ultramax vessels by an aggregate of USD 13 million. The bulk carriers in question were scheduled for delivery between the third quarter and the fourth quarter of 2016, however, the company said that it postponed the deliveries of the six ships by approximately one to three months each. These vessels, previously expected to be delivered between September 2016 and November 2016 will now be delivered between October 2016 and January 2017. Scorpio Bulkers said that, pursuant to these delays, USD 59.1 million that was previously expected to be paid to shipyards during the fourth quarter of the year is now expected to be paid in the first quarter of 2017. The company currently owns a fleet of 39 vessels, consisting of 14 Kamsarmax bulkers and 25 Ultramaxes. Upon final delivery of all of the vessels the owned fleet is expected to have a total carrying capacity of around 3.4 million dwt, Scorpio Bulkers said.