Emanuele Lauro, chairman of Scorpio Bulkers and Scorpio Tankers, is the new president of the Monaco Chamber of Shipping.

“Our professional association is now in its fourteenth year of existence and continues its action to promote Monaco as a major centre for international shipping,” Lauro said.

He added: “The Principality of Monaco represents an ideal place to host shipping companies thanks to the efficiency of its administration, its political stability, the quality of its socio-economic environment and its central location close to the main European capitals.”

Reflecting the fact that the shipping industry is an important part of the Monegasque economy, the Chambre Monegasque du Shipping now has 40 members, including shipowners, brokers, shipping agents, advisers and experts in maritime law. It covers all aspects of maritime transport, from cargo to cruise ships and commercial negotiations.

In related news Scorpio Bulkers has entered into an agreement with an unaffiliated third party to sell the SBI Leo and SBI Lyra, Ultramax bulk carriers built in 2015, for approximately $35 million in aggregate. Delivery of the vessels is expected to take place in the first quarter of 2021.

Scorpio Bulkers Inc. announced on August 3, 2020, its intention to transition away from the business of dry bulk commodity transportation and towards marine-based renewable energy including investing in the next generation of wind turbine installation vessels. The company intends to sell or have commitments to sell its remaining wholly-owned or finance leased dry bulk vessels during the first quarter of 2021.