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
Positive results for Pacific Basin despite weaker freight market
(Posted on 15/08/25)Pacific Basin Shipping Limited, one of the world’s leading dry bulk shipping companies, has announced... Read more
Swedish Club: Geopolitical volatility is new normal for marine insurance
(Posted on 14/08/25)The shipping industry must accept that geopolitical instability is now a permanent part of the operating... Read more
Diverse vessel and market portfolio provides resilience for Algoma
(Posted on 11/08/25)Algoma Central Corporation has reported its results for the three and six months ended June 30, 2025... Read more
Columbia: Compliance must be more than box-ticking exercise
(Posted on 11/08/25)The International Maritime Organization’s Maritime Safety Committee (MSC) has sent a clear message... Read more
DNV and RSI complete study on decarbonising short sea dry bulk fleet
(Posted on 07/08/25)Amid increasing pressure on shipping to achieve the IMO 2050 decarbonization targets, the Responsible... Read more
London P&I Club warns industry over incorrect FIBC loading
(Posted on 04/08/25)The London P&I Club has renewed calls on ship owners, operators and charterers to address potential... Read more
Columbia Group calls for overhaul of maritime training
(Posted on 04/08/25)Columbia Group is calling for urgent reforms in maritime education to address a growing shortage of... Read more
MIS launches as new global media platform
(Posted on 30/07/25)Maritime Information Services (MIS) has officially launched as a global media platform delivering daily... Read more
Russian and Ukrainian seafarers continue struggle with psychiatric fallout of war
(Posted on 30/07/25)Russian and Ukrainian seafarers continue to experience significant psychological strain following the... Read more
Noatum expands global footprint with inauguration of Shanghai office
(Posted on 30/07/25)Noatum Maritime, part of AD Ports Group’s Maritime & Shipping Cluster, announced the official... Read more
