Scorpio Bulkers to become Eneti Inc.

Written by Nick Blenkey
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Emanuele A. Lauro, Chairman and CEO, Scorpio Bulkers

Emanuele A. Lauro led Scorpio Bulkers Inc. (NYSE: SALT) said today that it intends to change its name to Eneti Inc. The company is transitioning 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 announced its plans for a name change last month, though it didn’t announce the name at that time. It also said that it intends to sell or have commitments to sell its remaining wholly-owned or finance leased dry bulk vessels during the first quarter of 2021.

That process continues, in a separate announcement today, Scorpio reported it had reached an agreement with an unaffiliated third party to sell the SBI Lynx, a Kamsarmax bulk carrier built in 2018, for approximately $22.25 million. Delivery of the vessel is expected to take place in the first quarter of 2021.

SBI Lynx is on a long-term charter to Scorpio Bulkers Inc.from Ocean Yield ASA which reports that it will receive proceeds of about $22 million and record a small book profit from the sale

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