Scorpio Bulkers sells seven ships in leaseback deal

Ship operator Scorpio Bulkers sells seven ships to Chinese bank in a sale and leaseback deal in which the company will lease the ships back from the bank. Scorpio expects that the deal will add almost USD 60 million to its liquidity.

Photo: Scorpio Bulkers

Scorpio Bulkers has opted to sell seven ships to partially state-owned China Merchant Bank Financial Leasing, which the company instead will lease from the bank, says Scorpio Bulkers in a press release.

Specifically, the transaction involves sale and leaseback agreements for three ultramax vessels and four kamsarmax ships, which Scorpio Bulkers has signed a deal to charter for seven years.

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