Scorpio Bulkers Sells Another Ultramax Amid Offshore Wind Pivot

By Eric Haun October 15, 2020

Scorpio Bulkers said on Thursday it has sold another Ultramax bulk carrier, the sixth ship to leave its fleet since the Monoco-based shipowner announced plans to pivot away from dry bulk shipping toward offshore wind services.

The sale of the 2016-built SBI Hera to an unnamed unaffiliated third party for $18.5 million follows close on the heels of Wednesday's sale of the 2017-built Ultramaxes SBI Phoenix and SBI Samson for $34 million. Since September 28, Scorpio has also sold three Kamsarmax vessels, including the 2015-built SBI Conga for $18.4 million and 2016-built SBI Sousta and SBI Rock for $18.5 million and $18 million respectively.

Following delivery of the six ships to their new owners in the fourth quarter, Scorpio will have an operating fleet of 46 vessels consisting of 43 wholly-owned or finance leased drybulk vessels (including 13 Kamsarmax vessels and 30 Ultramax vessels), and five time chartered-in Kamsarmax vessels.

In August, Scorpio joined a growing number of maritime and offshore oil and gas companies targeting opportunities in renewables when it announced a letter of intent to enter into a shipbuilding contract with South Korea's Daewoo Shipbuilding and Marine Engineering (DSME) to build a wind turbine installation vessel for delivery in 2023, with options to build three further similar vessels.

Scorpio has said it will not order any new bulk carriers going forward.