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Scorpio Bulkers reports major deficit in first quarter

Dry bulk carrier Scorpio Bulkers books a deficit of almost USD 125 million for the first quarter, which is especially due to an investment in sister company Scorpio Tankers, of which Scorpio Bulkers most recently sold half its shares.

Photo: Scorpio Bulkers

Robert Bugbee-led shipping company Scorpio Bulkers exits the first three months of the year with a deficit of USD 124 million, according to the carrier's interim report.

The major deficit is first and foremost due to a non-cash loss of nearly USD 89 million from an investment in sister company Scorpio Tankers, of which Scorpio Bulkers most recently sold half its shares.

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