Scorpio Bulkers Orders Eight Newbuilds for $242 Million

Scorpio Bulkers currently has on order 47 newbuild vessels at yards in Japan, China and Romania.

Newly established Scorpio Bulkers Inc. (OSLO-OTC: SALT) announced Tuesday that it has entered into agreements for the purchase of six Kamsarmax and two Ultramax drybbulk vessels at three different yards for a purchase price of approximately $242 million. The orders are as follows:

Yard, DWT, Delivery Date

1. Shanghai Waigaoqiao Shipbuilding Co., Ltd, 82,000, Q2-14
2. Shanghai Waigaoqiao Shipbuilding Co., Ltd, 82,000, Q3-14
3. Jiangsu Yangzijiang Shipbuilding Co., Ltd., 82,000, Q3-15
4. Jiangsu Yangzijiang Shipbuilding Co., Ltd., 82,000, Q3-15
5. Jiangsu Yangzijiang Shipbuilding Co., Ltd., 82,000, Q4-15
6. Jiangsu Yangzijiang Shipbuilding Co., Ltd., 82,000, Q1-16
7. Mitsui Engineering & Shipbuilding Co., Ltd., 60,200, Q3-16
8. Mitsui Engineering & Shipbuilding Co., Ltd., 60,200, Q3-16

Scorpio Bulkers Inc., a provider of marine transportation of dry bulk commodities, has contracted and agreed to purchase 28 Ultramax, 16 Kamsarmax and three Capesize newbuilding drybulk vessels to be delivered starting from the second quarter of 2014 from shipyards in Japan, China and Romania.

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