Scorpio Bulkers Inc. announced on Tuesday, March 10, that the company has entered into agreements to sell the SBI Jaguar and SBI Taurus, 2014 and 2015 built Ultramax vessels, respectively, and the SBI Bolero, a 2015 built Kamsarmax vessel, for approximately $53.5 million in aggregate. None of the three vessels have been fitted with scrubbers. Delivery of the vessels is expected to take place between March and May of 2020. It is estimated that the company’s liquidity will increase by approximately $18.3 million after the repayment of outstanding debt.

In the last reporting period Scorpio Bulkers’ Kamsarmax fleet earned approximately $10,000 per day on average for 80 percent of days, while its Ultramax fleet earned approximately $9,000 per day on average for 90 percent of days.

Scorpio Bulkers Inc. is a provider of marine transportation of dry bulk commodities. Upon the completion of the sale of the three vessels, Scorpio Bulkers Inc. will have an operating fleet of 55 vessels consisting of 49 wholly-owned or finance leased drybulk vessels (including 16 Kamsarmax vessels and 33 Ultramax vessels), and six time chartered-in vessels (including five Kamsarmax vessels and one Ultramax vessel).