With a giant newbuilding program for a total 74 ships, the new and extremely aggressive carrier Scorpio Bulkers must be confident that its timing is absolutely right. And the CEO of the New York-listed dry bulk carrier and sister company of equally aggressive tank carrier Scorpio Tankers is just that.
"We have seen improvements in dry bulk rates over the past year, particularly in the fourth quarter of 2013. We believe rates will increase over the next few years, and our fleet of 74 newbuilding dry bulk vessels are poised to be delivered into favorable rate environments. Also, in anticipation of an increase in rates, we have time chartered-in ten modern dry bulk vessels at favorable rates," says Emanuele Lauro, Chairman of the Board and CEO, in a brief to the stock exchange in relation to a new Scorpio Bulkers annual report published yesterday, Tuesday.