TelestackPort of StocktonTOC EventsTMS Awards 2019The Wolfson Centre for Bulk Solids Handling Technology TBA Group
  • Port of Stockton
  • Cimbria Bulk Equipment A/S
  • Sailors Society
  • TMS Awards 2019
  • 25th Coaltrans Asia
  • Marine Fuels 360 China

Scorpio’s loan facility commitment

(Posted on 02/08/18)

Scorpio Bulkers Inc. has announced that the Company has received a commitment from ABN AMRO Bank N.V. and Norddeutsche Landesbank Girozentrale for a loan facility of up to $60.0 million. The loan facility will be used to finance up to 60% of the fair market value of two Ultramax dry bulk vessels (SBI Perseus and SBI Phoebe) and two Kamsarmax dry bulk vessels (SBI Electra and SBI Flamenco).

The loan facility has a final maturity date of five years from drawdown date and bears interest at LIBOR plus a margin of 2.25% per annum. This loan facility, which is expected to close within August, would increase the Company’s liquidity by approximately $21 million after repayment of the vessels’ existing debt.  The terms and conditions are similar to those set forth in the Company's existing credit facilities and the loan facility is subject to customary conditions precedent and the execution of definitive documentation.

Scorpio Bulkers Inc. is a provider of marine transportation of dry bulk commodities. Scorpio Bulkers Inc. has an operating fleet of 57 vessels consisting of 56 wholly-owned or finance leased drybulk vessels (including 19 Kamsarmax vessels and 37 Ultramax vessels), and one time chartered-in Ultramax vessel. The Company’s owned and finance leased fleet has a total carrying capacity of approximately 3.9 million dwt and all of the Company’s owned vessels have carrying capacities of greater than 60,000 dwt.

Latest News

Ensuring safe performance

(Posted on 18/10/19)

DNV GL’s is continuing long-standing efforts to ensure safe performance of aft most propeller... Read more


Diana announces Polymnia time charter

(Posted on 18/10/19)

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, has... Read more


Britannia returns more funds to Members

(Posted on 18/10/19)

The Britannia Steam Ship Insurance Association Limited has declared a USD15 million capital distribution... Read more


Fleet’s 25th-anniversary celebration continues

(Posted on 15/10/19)

Fleet Management continues its string of 25th-anniversary celebrations with the second gala dinner hosted... Read more


Pioneering SSA project to transform registries

(Posted on 15/10/19)

Confirming Singapore’s position as an international hub for innovation, the Singapore Shipping... Read more


CSM celebrates 40 years of valued service

(Posted on 15/10/19)

Capt Heinrich Schoeller, Chairman of Columbia Shipmanagement (CSM) and the Columbia Board of Directors... Read more


Get onboard with digitalization

(Posted on 15/10/19)

“Digitalization brings great benefits and has the potential to create greater equality in the... Read more


Intercargo concerns over sulphur cap

(Posted on 09/10/19)

The International Association of Dry Cargo Shipowners, INTERCARGO held its Annual General Meeting, Executive... Read more


BHP and Klaveness develop new platform

(Posted on 09/10/19)

BHP’s Maritime and Supply Chain Excellence team and Klaveness Digital are working together to... Read more


Survey reveals sulphur cap compliance

(Posted on 09/10/19)

Palau International Ship Registry (PISR) has completed a survey (IMO 2020 Sulphur Regulation | Your... Read more


Marine Fuels 360 ChinaCimbria Bulk Equipment A/SPort of Belledune25th Coaltrans AsiaViganCleveland Cascades Ltd
  • Bühler GmbH
  • Cleveland Cascades Ltd
  • Vigan
  • TOC Events

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping