09/03/2021at 11:57

Former Scorpio Bulkers lost more than USD 600 million in 2020 after exit from dry bulk

Eneti, formerly Scorpio Bulkers, lost more than USD 600 million in 2020, the year in which the company decided to make an exit from bulk to instead enter wind. The large deficit is mainly attributable to impairments on ships sold or put up for sale.

by DANIEL LOGAN

Former Scorpio Bulkers, known under the name Eneti since January to complete the US company's transition to wind, leaves 2020 with a huge deficit.

Already a subscriber?Log in here

Read the whole article

Get access for 14 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

With your free trial you get:

Access all locked articles
Receive our daily newsletters
Access our app

Get full access for you and your coworkers

Start a free company trial today

Eneti will draw on US institutional capital to become a major player in offshore wind
For subscribers
Eneti, formerly Scorpio Bulkers, sells five ships for USD 88 million
For subscribers
Scorpio Bulkers sells seven ships to Star Bulk as part of exit from dry bulk
For subscribers

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

Front page now

Maersk CEO Vincent Clerc (left) and MSC CEO Søren Toft are following very different strategic directions. | Foto: Jacob Gronholt-pedersen/reuters/ritzau Scanpix og Jason Decrow/ap/ritzau Scanpix

Container

Maersk could be heading for a price war with MSC

After a profit of historic proportions in 2022, Maersk is facing a new reality this year, entailing a potential price war unleashed by the carrier’s partner in the disbanded 2M alliance, MSC, predicts Drewry.

For subscribers

Krisen på fragtmarkedet styrker DSV's position i forhold til rederierne: ”I og med at vi er en af de store aftagere af søfragt, har vi også et samarbejde med rederierne, som er strategisk og forankret i direktionen,” siger DSV's topchef, Jens Bjørn Andersen. | Foto: Lars Krabbe/Foto: Lars Krabbe/Ritzau Scanpix

Logistics

DSV to support box carriers that provided help during Covid chaos

For subscribers

Tanker

Countdown to clash over Euronav's board composition has begun

For subscribers

Maersk is heading for its second record profit, setting a new benchmark in Danish business history. | Foto: Jonas Walzberg/AP/Ritzau Scanpix

Container

Maersk on track to achieve record profit for second consecutive year

For subscribers

Offshore

Danish authorities suspending 23GW of offshore wind projects

For subscribers

Container

Maersk redirects traffic following earthquake

For subscribers

DSV to support box carriers that provided help during Covid chaos

DSV customers found themselves in a bind when box carriers were able to allot limited ship space as they saw fit during the pandemic. Now the balance has shifted.

For subscribers

Featured

Eitzen son wants to electrify shipping as new CEO of Christiania Shipping

New Christiania Shipping CEO Fridtjof C. Eitzen maintains that acquisitions are on hold after a record year. The 36-year-old marine engineer, fifth generation in the Eitzen dynasty, wants to electrify shipping.

For subscribers

Container

Maersk on track to achieve record profit for second consecutive year

Wednesday, Maersk will probably announce a financial result for the Danish business history annals. Shareholders face dividends of USD 11.2bn, one analyst estimates.

For subscribers