Scorpio Bulkers goes on a buying binge

Scorpio Emanuele LauroOCTOBER 7, 2013 — With $300 million of gross proceeds from a September private placement in the kitty, Emanuele A. Lauro's Scorpio Bulkers Inc. (OSLO-OTC: SALT) is doing what it said it would do with the money: using it to part finance construction of a series of fuel efficient dry bulk vessels.

Emanuele A. Lauro, Scorpio Bulkers Chairman, Director, and Chief Executive Officer

Today the company reported that it has entered into various agreements for the purchase of eleven Ultramax dry bulk vessels of 60,000 dwt to 64,000 dwt and four Kamsarmax dry bulk vessels of 81,000 dwt to 84,000 dwt from shipyards in Japan and China. The total purchase price for the announced agreements is around $455 million.

  Yard DWT Delivery
1 Mitsui Engineering & Shipbuilding Co., LTD 60,200 Q2-16
2 Mitsui Engineering & Shipbuilding Co., LTD 60,200 Q2-16
3 Imabari Shipbuilding Co., Ltd 61,000 Q2-15
4 Imabari Shipbuilding Co., Ltd 61,000 Q3-15
5 Imabari Shipbuilding Co., Ltd 61,000 Q4-15
6 Imabari Shipbuilding Co., Ltd 61,000 Q1-16
7 Nantong COSCO KHI Ship Engineering Co. Ltd 61,000 Q2-16
8 Nantong COSCO KHI Ship Engineering Co. Ltd 61,000 Q2-16
9 Chengxi Shipyard Co. Ltd 64,000 Q2-16
10 Chengxi Shipyard Co. Ltd 64,000 Q2-16
11 Chengxi Shipyard Co. Ltd 64,000 Q3-16
12 Tsuneishi Group (Zhoushan) Shipbuilding Inc. 81,600 Q3-15
13 Tsuneishi Group (Zhoushan) Shipbuilding Inc. 81,600 Q1-16
14 Imabari Shipbuilding Co., Ltd 84,000 Q1-15
15 Imabari Shipbuilding Co., Ltd 84,000 Q3-15

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