Scorpio Bulkers Acquires 6 Golden Ocean Ultramaxes

Image Courtesy: Scorpio Bulkers Inc.

Scorpio Bulkers, after scaling back its fleet for the past 2 years, has decided to buy 6 Golden Ocean ultramaxes.

Golden Ocean Group Limited (GOGL) said the vessels would be sold en bloc for USD 142.5 million.

All the ships were built at Chengxi Shipyard and are expected to be delivered to their new owner, during the fourth quarter of 2017.

Birgitte Ringstad Vartdal, CEO of Golden Ocean Management AS, said, “The sale of these vessels strengthens our commercial focus on Capesize and Panamax vessels, where we have critical mass and that we believe will provide the greatest leverage to a recovery in the dry bulk shipping market.”

“It also increases our financial flexibility considerably as the majority of the gross proceeds will directly increase our cash balance. We are also pleased to be in the position to take early delivery of one of our Capesize newbuildings after having secured employment for the vessel at a rate well above our cash break even levels,” Vartdal added.