Scorpio Bulkers Inc. Announces Agreement to Time Charter-In One Ultramax Vessel
April 25 2017 - 9:16AM
Scorpio Bulkers Inc. (NYSE:SALT) (“Scorpio Bulkers,” or the
“Company”) announced today that it has entered into an agreement to
time charter in one Ultramax vessel.
The Company has entered into a time charter-in
agreement with an unrelated third party on one Ultramax Vessel. The
agreement is for two years at approximately $10,125 per day with a
Company option to extend the agreement for one year at
approximately $10,885 per day. The time charter is expected to
commence prior to the end of October 2017.
About Scorpio Bulkers Inc.
Scorpio Bulkers Inc. is a provider of marine
transportation of dry bulk commodities. Upon the completion
of the pending sale of two Kamsarmax vessels the Company will own
46 vessels, consisting of 18 Kamsarmax vessels and 28 Ultramax
vessels. The Company also time charters-in one Kamasarmax vessel
and has agreed to time charter-in one Ultramax vessel. The owned
fleet will have a total carrying capacity of approximately 3.2
million deadweight tonnes. Additional information about the Company
is available on the Company’s website www.scorpiobulkers.com, which
is not a part of this press release.
Forward-Looking Statements
Matters discussed in this press release may
constitute forward-looking statements. The Private Securities
Litigation Reform Act of 1995 provides safe harbor protections for
forward-looking statements in order to encourage companies to
provide prospective information about their business.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than
statements of historical facts. The Company desires to take
advantage of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 and is including this cautionary
statement in connection with this safe harbor legislation. The
words “believe,” “anticipate,” “intend,” “estimate,” “forecast,”
“project,” “plan,” “potential,” “may,” “should,” “expect,”
“pending” and similar expressions identify forward-looking
statements.
The forward-looking statements in this press
release are based upon various assumptions, many of which are
based, in turn, upon further assumptions, including without
limitation, our management’s examination of historical operating
trends, data contained in our records and other data available from
third parties. Although we believe that these assumptions were
reasonable when made, because these assumptions are inherently
subject to significant uncertainties and contingencies which are
difficult or impossible to predict and are beyond our control, we
cannot assure you that we will achieve or accomplish these
expectations, beliefs or projections.
In addition to these important factors, other
important factors that, in our view, could cause actual results to
differ materially from those discussed in the forward-looking
statements include the failure of counterparties to fully perform
their contracts with us, the strength of world economies and
currencies, general market conditions, including fluctuations in
charter rates and vessel values, changes in demand for dry bulk
vessel capacity, changes in our operating expenses, including
bunker prices, drydocking and insurance costs, the market for our
vessels, availability of financing and refinancing, charter
counterparty performance, ability to obtain financing and comply
with covenants in such financing arrangements, changes in
governmental rules and regulations or actions taken by regulatory
authorities, potential liability from pending or future litigation,
general domestic and international political conditions, potential
disruption of shipping routes due to accidents or political events,
vessels breakdowns and instances of off-hires and other factors.
Please see our filings with the Securities and Exchange Commission
for a more complete discussion of these and other risks and
uncertainties.
Contact:
Scorpio Bulkers Inc.
+377-9798-5715 (Monaco)
+1-646-432-1675 (New York)
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