Scorpio sells non-scrubber-fitted bulker as it pursues offshore wind-focused strategy

Monaco-based ship owner and operator Scorpio Bulkers is selling one of its non-scrubber-fitted bulkers, representing a first step in the company’s recently unveiled strategy focused on the offshore wind sector.

As informed, the company has entered into an agreement with an unaffiliated third party to sell the SBI Rock, a 2016-built Kamsarmax vessel, for a price slightly in excess of $18 million.

The vessel is scheduled for delivery in the fourth quarter of 2020. 

According to Scorpio, the sale is expected to generate additional liquidity of approximately $5 million. In addition, the company will save approximately $1 million in budgeted drydocking costs during the first quarter of 2021.

In early August, the dry bulk operator revealed a decision to invest in a wind turbine installation vessel, making a move into a brand new sector. Scorpio Bulkers also signed a letter of intent with South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) for the construction of this vessel which is slated for delivery in 2023. The contract includes options for three more similar vessels.

“Last month we announced a new direction for Scorpio Bulkers – offshore wind as a sustainable business opportunity.  This sale represents a step, one of the many deliberate steps we must take, in our transition,” Emanuele Lauro, Chairman and CEO, said, commenting on the latest transaction.

Upon the completion of the sale of SBI Rock, Scorpio Bulkers will have an operating fleet of 53 vessels consisting of 48 wholly-owned or finance leased drybulk vessels and five time chartered-in Kamsarmaxes.