Scorpio Bulkers splurges $1.171 billion on newbuilds

Robert Bugbee is President of both Scorpio Bulkers and Scorpio Tankers Robert Bugbee is President of both Scorpio Bulkers and Scorpio Tankers

JANUARY 6, 2014 — Robert Bugbee led Scorpio Bulkers Inc. (NYSE: SALT) (OSLO-OTC: SALT) is continuing on its newbuilding binge. Today it announced today that it has entered into agreements worth a total of $1.171 billion for the purchase of twenty Capesize dry bulk vessels and two Kamsarmax dry bulk vessels.

Scorpio Bulkers has now  contracted and agreed to purchase 28 Ultramax, 23 Kamsarmax and 23 Capesize newbuilding dry bulk vessels to be delivered starting from the second quarter of 2014 from shipyards in Japan, Korea, China and Romania. The fleet currently on order has a total carrying capacity of approximately 8 million deadweight tonnes.

Details of the latest orders are:

YARD DWT Delivery
Shanghai Waigaoqiao Shipbuilding Co., Ltd 180,000 Q1-15
Shanghai Waigaoqiao Shipbuilding Co., Ltd 180,000 Q2-15
Shanghai Waigaoqiao Shipbuilding Co., Ltd 180,000 Q3-15
Shanghai Waigaoqiao Shipbuilding Co., Ltd 180,000 Q4-15
Shanghai Waigaoqiao Shipbuilding Co., Ltd 180,000 Q1-16
Shanghai Waigaoqiao Shipbuilding Co., Ltd 180,000 Q2-16
Shanghai Waigaoqiao Shipbuilding Co., Ltd 180,000 Q3-16
Sungdong Shipbuilding & Marine Engineering Co., Ltd 180,000 Q2-15
Sungdong Shipbuilding & Marine Engineering Co., Ltd 180,000 Q3-15
Sungdong Shipbuilding & Marine Engineering Co., Ltd 180,000 Q3-15
Sungdong Shipbuilding & Marine Engineering Co., Ltd 180,000 Q3-15
Sungdong Shipbuilding & Marine Engineering Co., Ltd 180,000 Q4-15
Sungdong Shipbuilding & Marine Engineering Co., Ltd 180,000 Q4-15
Sungdong Shipbuilding & Marine Engineering Co., Ltd 180,000 Q1-16
Sungdong Shipbuilding & Marine Engineering Co., Ltd 180,000 Q1-16
Sungdong Shipbuilding & Marine Engineering Co., Ltd 180,000 Q2-16
Sungdong Shipbuilding & Marine Engineering Co., Ltd 180,000 Q2-16
Sungdong Shipbuilding & Marine Engineering Co., Ltd 180,000 Q2-16
Daewoo Mangalia Heavy Industries S.A. 180,000 Q1-16
Daewoo Mangalia Heavy Industries S.A. 180,000 Q2-16
Hudong-Zhonghua (Group) Co., Ltd 82,000 Q1-16
Hudong-Zhonghua (Group) Co., Ltd 82,000 Q2-16

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