Scorpio Bulkers Inc. Announces the Sale of an Ultramax Vessel
January 11 2021 - 8:30AM
Scorpio Bulkers Inc. (NYSE: SALT) (the “Company”) announced today
that the Company has entered into an agreement with an unaffiliated
third party to sell the SBI Libra, an Ultramax bulk carrier built
in 2017, for approximately $18.65 million. Delivery of the vessel
is expected to take place in the first quarter of 2021.
About Scorpio Bulkers Inc.
Scorpio Bulkers Inc. announced on August 3, 2020, its intention
to transition away from the business of dry bulk commodity
transportation and towards marine-based renewable energy including
investing in the next generation of wind turbine installation
vessels. The Company intends to sell or have commitments to sell
its remaining wholly-owned or finance leased dry bulk vessels
during the first quarter of 2021. Additional information
about the Company is available on the Company’s
website www.scorpiobulkers.com, which is not a part of this
press release.
Forward-Looking Statements
Matters discussed in this press release may
constitute forward-looking statements. The Private Securities
Litigation Reform Act of 1995 provides safe harbor protections for
forward-looking statements in order to encourage companies to
provide prospective information about their business.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than
statements of historical facts. The Company desires to take
advantage of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 and is including this cautionary
statement in connection with this safe harbor legislation. The
words “believe,” “anticipate,” “intend,” “estimate,” “forecast,”
“project,” “plan,” “potential,” “may,” “should,” “expect,”
“pending” and similar expressions identify forward-looking
statements. We undertake no obligation, and specifically decline
any obligation, except as required by law, to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
The forward-looking statements in this press
release are based upon various assumptions, many of which are
based, in turn, upon further assumptions, including without
limitation, our management’s examination of historical operating
trends, data contained in our records and other data available from
third parties. Although we believe that these assumptions were
reasonable when made, because these assumptions are inherently
subject to significant uncertainties and contingencies which are
difficult or impossible to predict and are beyond our control, we
cannot assure you that we will achieve or accomplish these
expectations, beliefs or projections.
In addition to these important factors, other
important factors that, in our view, could cause actual results to
differ materially from those discussed in the forward-looking
statements include the failure of counterparties to fully perform
their contracts with us, the strength of world economies and
currencies, general market conditions, including fluctuations in
charter rates and vessel values, changes in demand for dry bulk
vessel capacity, the length and severity of the ongoing novel
coronavirus (COVID-19) outbreak, including its effects on demand
for dry bulk products and the transportation thereof, changes in
our operating expenses, including bunker prices, drydocking and
insurance costs, the market for our vessels, availability of
financing and refinancing, counterparty performance, ability to
obtain financing and the availability of capital resources
(including for capital expenditures) and comply with covenants in
such financing arrangements, planned capital expenditures, our
ability to successfully identify, consummate, integrate and realize
the expected benefits from acquisitions and changes to our business
strategy, fluctuations in the value of our investments, changes in
governmental rules and regulations or actions taken by regulatory
authorities, potential liability from pending or future litigation,
general domestic and international political conditions, potential
disruption of shipping routes due to accidents or political events,
vessel breakdowns and instances of off-hires and other factors.
Please see our filings with the Securities and Exchange Commission
for a more complete discussion of these and other risks and
uncertainties.
Contact:
Scorpio Bulkers Inc.
+377-9798-5715 (Monaco)
+1-646-432-1675 (New York)
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