Breaking News

The number of people officially infected with Covid-19 has risen to 66 in Monaco: 3 cured, 11 hospitalised, 2 in ICU

Yet more bulk carriers for Scorpio

Yet more bulk carriers for Scorpio

By Staff Writer - November 7, 2017

businessMonaco’s Scorpio Bulkers, a provider of marine transportation of dry bulk commodities, announced late on November 6 that it has entered into two separate agreements with third parties to acquire three Ultramax dry bulk vessels and one Kamsarmax dry bulk vessel for an aggregate of €77.67 million ($90 million), of which €66.5 million ($77.1 million) is payable in cash and the remaining consideration is in the form of approximately 1.592 million common shares of the company to be issued to one of the sellers.

All of the Ultramax vessels were built at Chengxi Shipyard Co Ltd in China, of which two were delivered in 2014 and one in 2015. The Kamsarmax bulk carrier is a resale unit whose construction will be supervised by the company and which will be delivered from Jiangsu New Yangzijiang Shipbuilding Co Ltd in China in the second quarter of 2018.

The cash component of the vessel acquisitions will be funded by cash on hand, as well as new debt facilities which are currently under discussion with the company’s lenders.

After the completion of its recent acquisitions of ten vessels, nine Ultramax vessels and one Kamsarmax, Scorpio Bulkers will own or finance lease 56 vessels, consisting of 19 Kamsarmax and 37 Ultramax. The company also time charters-in one Ultramax vessel.

The owned fleet will have a total carrying capacity of approximately 3.9 million deadweight tonnes upon the completion of the acquisition of the nine Ultramax vessels and one Kamsarmax vessel.


READ ALSO

JetClass improves business class flights from Nice

shares
SHARE
Previous articleThe Women of Monaco Life, A Series: Heidi Fossali
Next articleBoulanger awards supported in Paris

daily

April 5, 2020 | Local News

2nd Covid-19 death recorded in Monaco

Cassandra Tanti

A second person has died from Covid-19 in Monaco. Meanwhile, the Principality’s Minister of State has fully recovered from the virus.

0
Stephanie Horsman

Now more than ever, health is at the forefront of everyone’s minds. On 7th April, we have an opportunity to thank the nurses and midwives of the Principality during World Health Day 2020.

0
Stephanie Horsman

Monaco’s support workers caring for the most vulnerable in the community are making heroic efforts to maintain vital ties to the elderly and disabled, whilst trying to remain safe themselves during the crisis.

0
April 2, 2020 | Local News

Majority compliance of lockdown rules

Cassandra Tanti

Since confinement began on 18th March, the Monaco police force has made 11,000 traffic checks on drivers entering the Principality.

0