Scorpio Bulkers Continue Newbuilding Spending Spree

Scorpio Bulkers inc. announce newbuilding agreements for 3 Capesize dry bulk vessels for an aggregate of US$162-million from the South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering Co., Ltd. (DSME).

The three Capesize dry bulk carriers of 180,000 dwt each are to be built at DSME's subsidiary facility Daewoo Mangalia Heavy Industries S.A. in Romania.

All these 180,000 dwt ships are to be built in Romania and are of the same specification with the first two to be delivered in Q4, 2014 and the remaining vessel later in Q1, 2016.

About Scorpio Bulkers Inc.
Scorpio Bulkers Inc. is a provider of marine transportation of dry bulk commodities. They have contracted and agreed to purchase 26 "Ultramax"-size and 10 "Kamsarmax"-size newbuilding dry bulk vessels to be delivered starting from the first quarter of 2015 from shipyards in Japan and China.

Additional information about the Company is available at www.scorpiobulkers.com