Scorpio Bulkers has continued its fleet sell off with the sale of seven vessels to Star Bulk, as it pivots to renewable energy.

In its annual results announcement, Scorpio Bulkers to be renamed Eneti Inc, revealed it has sold a further seven bulkers to Star Bulk in an equity transaction.

Scorpio Bulkers is selling three 2015-built ultramaxes, two 2015-built kamsarmaxes, and two 2016-built kamsarmaxes for 3m shares in Star Bulk. Lease arrangements totalling $102.3m will also be assumed by Star Bulk

“Since we announced our transition, we have concluded the sale of twelve vessels, and we have committed a further 25 vessels for sale within the first half of 2021. We expect to have committed all of our vessels for sale very shortly, allowing us to fully focus on our future in renewable energy,” said Emanuele A. Lauro, Chairman and CEO of Scorpio Bulkers said.

In early August last year the company announced its plans to move into the offshore wind market with the signing of a Letter of Intent (LoI) for the construction of a wind turbine installation vessel, plus options, at Daewoo Shipbuilding and Marine Engineering (DSME).

Source: Seatrade Maritime