Scorpio Bulkers cancels six Capesize newbuildings

Scorpio Bulkers now cancels several Capesize newbuilding contracts in South Korea and Romania, and the carrier will thus book a total loss of USD 55 million. The contracts are converted into LR2 tanker vessels.

It looks like Scorpio Bulkers hit the wall today, as the expansive and aggressive carrier has otherwise kept its sights set firmly on the road ahead with complete faith in its giant orderbook and the dry bulk vessels set to be delivered.

The carrier's confident CEO Robert Bugbee said as recently as late October that "we have the fleet everybody wants," referring to the fact that Scorpio Bulkers' - and Scorpio Tankers' - ships would be state-of-the-art fuel efficient eco-design vessels, as opposed to many competitors' ships.

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