Scorpio Bulkers Inc. announced that it has entered into an agreement with an unaffiliated third party to acquire six Ultramax dry bulk vessels for $142.5 million in the aggregate, which will be funded by cash on hand, as well as existing and new debt facilities which are currently under discussion with our lenders.
All of the Ultramax vessels were built in China, of which three were delivered in 2015, one was delivered in 2016, and two were delivered in 2017.
Scorpio Bulkers Inc. is a provider of marine transportation of dry bulk commodities. Scorpio Bulkers Inc., after the acquisition discussed herein, will own 52 vessels, consisting of 18 Kamsarmax vessels and 34 Ultramax vessels. The Company has agreed to time charter-in one Ultramax vessel. The owned fleet will have a total carrying capacity of approximately 3.6 million deadweight tonnes.