Stake in sister company ensures profit for Scorpio Bulkers

An investment in a sister company helped secure a double-digit million-dollar profit for Scorpio Bulkers in the fourth quarter 2019. Conversely, a major impairment on four vessels put up for sale pulled figures downward.

Photo: Scorpio Bulkers

Sister company Scorpio Tankers once again saves Scorpio Bulkers, according to the dry bulk shipping line's fourth quarter fiscal report, which was just published.

The Robert Bugbee-led shipping company, registered in Monaco, booked a profit of USD 15 million in the fourth quarter. That is more than double the result of the same period in 2018.

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