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Reshaping the maritime industry one ship at a time

THE Philippine maritime industry is often associated with the more established and lucrative sector of seafaring. Trailing in its wake are the widely diverse sectors of fishing, aquaculture, domestic shipping, ship registry, maritime safety and security, and shipbuilding.

Philippines , Mexico , Manila , Philippine , Benguet , Filipino , Trisha-gervacio , Marine-engineering-inc , International-maritime-organization , Asia-youth-international-model-united-nations , Conference-beacon-convention , Marine-engineering-society

How Much Longer Will Florida Workers Have Job Leverage?

Nearly every county in South Florida is experiencing job growth; Fort Lauderdale metro area had a jobless rate of 2.8 percent in August and Palm Beach County was at 2.9 percent. But inflation still threatens to upturn the market.

Fort-lauderdale , Florida , United-states , Florida-atlantic-university , Philadelphia , Pennsylvania , Hollywood , California , Florida-east-coast , Broward-county , Palm-beach-county , West-palm-beach

South Florida workers hold upper hand, but for how long?

Workers in South Florida appear to hold an unrelenting grip over employers as they seek more pay and say over conditions at the office. But as inflation buffets the economy, labor's advantage may ease if a recession takes hold.

New-york , United-states , Fort-lauderdale , Florida , Florida-atlantic-university , Philadelphia , Pennsylvania , Washington , Hollywood , California , Broward-county , Florida-east-coast

Scorpio Bulkers Inc\. Announces the Sale of an Ultramax Vessel | Hellenic Shipping News Worldwide

Scorpio Bulkers Inc. Announces the Sale of an Ultramax Vessel
Scorpio Bulkers Inc. announced that the Company has entered into an agreement with an unaffiliated third party to sell the SBI Phoebe, an Ultramax bulk carrier built in 2016, for approximately $17.65 million. Delivery of the vessel is expected to take place in the first quarter of 2021.
Scorpio Bulkers Inc., a provider of marine transportation of dry bulk commodities announced its intention to exit the dry bulk sector during 2021 and is investing in the next generation of wind turbine installation vessels. The Company has recently sold eight vessels and has contracted to sell seventeen additional vessels, all of which are expected to close in the first half of 2021. Scorpio Bulkers Inc. intends to sell its 24 remaining wholly-owned or finance leased drybulk vessels (including 7 Kamsarmax vessels and 17 Ultramax vessels) during 2021. The Company has signed a letter of intent to enter into a shipbuilding contract with Daewoo Shipbuilding and Marine Engineering Inc. to build a wind turbine installation vessel to be delivered in 2023, with options to build three further similar vessels.

Scorpio-bulkers-inc , Marine-engineering-inc , Bulkers-inc , Daewoo-shipbuilding , Marine-engineering , Scorpio-bulkers , கடல்-பொறியியல்-இன்க் , டேவூ-கப்பல்-கட்டும் , கடல்-பொறியியல் ,

Scorpio Bulkers Inc. Announces Purchase of Common Shares by Scorpio Services Holding Limited

Scorpio Bulkers Inc. Announces Purchase of Common Shares by Scorpio Services Holding Limited
December 21, 2020 19:05 ET
| Source:
Scorpio Bulkers
Scorpio Bulkers
New York, New York, UNITED STATES
MONACO, Dec. 21, 2020 (GLOBE NEWSWIRE) -- Scorpio Bulkers, Inc. (NYSE: SALT) (the “Company”) announced today that Scorpio Services Holding Limited (“SSH”), a related party, has purchased 117,000 common shares of the Company at an average price of $15.29 per share in the open market. The Company currently has 11,554,837 common shares outstanding, of which SSH and its affiliates own 3,224,751 or 27.91%.
About Scorpio Bulkers Inc.
Scorpio Bulkers Inc., a provider of marine transportation of dry bulk commodities announced its intention to exit the dry bulk sector during 2021 and is investing in the next generation of wind turbine installation vessels. The Company has recently sold eight vessels and has contracted to sell sixteen additional vessels, all of which are expected to close in the first half of 2021. Scorpio Bulkers Inc. intends to sell its 25 remaining wholly-owned or finance leased drybulk vessels (including 7 Kamsarmax vessels and 18 Ultramax vessels) during 2021. The Company has signed a letter of intent to enter into a shipbuilding contract with Daewoo Shipbuilding and Marine Engineering Inc. to build a wind turbine installation vessel to be delivered in 2023, with options to build three further similar vessels. Additional information about the Company is available on the Company’s website www.scorpiobulkers.com, which is not a part of this press release.

Monaco , Scorpio-bulkers-inc , Marine-engineering-inc , Scorpio-services-holding-limited , Bulkers-inc , Daewoo-shipbuilding , Marine-engineering , Private-securities-litigation-reform-act , மொனாக்கோ , கடல்-பொறியியல்-இன்க் , ஸ்கார்பியோ-சேவைகள்-வைத்திருத்தல்-வரையறுக்கப்பட்டவை

Scorpio Exits Dry Bulk, Puts Remaining Bulker Fleet Up For Sale

Scorpio Exits Dry Bulk, Puts Remaining Bulker Fleet Up For Sale
by Ship & Bunker News Team
Tuesday December 22, 2020
Scorpio Bulkers today said it will sell its
25 remaining vessels and exit the dry bulk sector in favour of a focus on renewables.
The firm is also looking for shareholders' approval to change its name to reflect its "transition to a sustainable future."
Scorpio says the proposed new name of the company will be announced on or before January 8, 2021.
Writing on the Wall?
Emanuele Lauro telling Reuters in September the firm would invest between
$265 to $290 million in offshore wind farm installation vessels.

Monaco , Emanuele-lauro , Scorpio-tankers , Marine-engineering-inc , Scorpio-exits-dry-bulk , Puts-remaining-bulker-fleet-up-for , Daewoo-shipbuilding , Marine-engineering , Scorpio-bulkers , Scorpio-bulker , மொனாக்கோ , ஸ்கார்பியோ-டேங்கர்கள்

Scorpio Bulkers will soon have a new name, but no bulkers

Emanuele A. Lauro, Chairman and CEO, Scorpio Bulkers
Emanuele A. Lauro led Scorpio Bulkers Inc. (NYSE: SALT) said today that following its recent string of vessel sales, its board of directors has authorized the company, as part of its transition to a sustainable future, to sell its remaining dry bulk vessels and exit the dry bulk sector during 2021.
“As a result of this decision” said today’s announcement, “”the company expects to record a write-down ranging from $475 million to $500 million on vessels sold and classified as held for sale. This estimated write-down includes non-cash charges of $425 million to $440 million to reflect the current fair market value of the fleet and $50 million to $60 million of estimated cash charges, which include $34 million to $36 million for the termination of various vessel-related agreements, as well as other selling costs. The company will also write-off approximately $10 million of deferred financing costs as outstanding debt is repaid.”

Emanuelea-lauro , Scorpio-bulkers-inc , Marine-engineering-inc , Scorpio-bulkers , Daewoo-shipbuilding , Marine-engineering , கடல்-பொறியியல்-இன்க் , டேவூ-கப்பல்-கட்டும் , கடல்-பொறியியல் ,

Scorpio Bulkers To Exit Dry Bulk Sector In 2021 To

Following a string of bulk carrier vessel sales
and a plan to order an offshore wind installation vessel, dry bulk carrier operator Scorpio Bulkers on Sunday said its Board of Directors had authorized the company, as part of its transition to a sustainable future, to sell its remaining dry bulk vessels and exit the dry bulk sector during 2021.
"As a result of this decision, the company expects to record a write-down ranging from $475.0 million to $500.0 million on vessels sold and classified as held for sale," Scorpio Bulkers said.
Pursuant to the Master Agreement previously filed with the SEC governing the commercial and technical management of its vessels, the Company has submitted a notice of termination to its managers, effectively ending its relationship with Scorpio Commercial Management s.a.m. and Scorpio Ship Management s.a.m, Scorpio said.

Marine-engineering-inc , Scorpio-bulkers , Master-agreement , Scorpio-commercial-management , Scorpio-ship-management , Daewoo-shipbuilding , Marine-engineering , கடல்-பொறியியல்-இன்க் , ஸ்கார்பியோ-வணிகரீதியானது-மேலாண்மை , ஸ்கார்பியோ-கப்பல்-மேலாண்மை , டேவூ-கப்பல்-கட்டும்

Scorpio Bulkers Inc. Announces Exit from Dry Bulk Sector, Classifying Its Fleet as Held for ...

Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Scorpio Bulkers Inc. Announces Exit from Dry Bulk Sector, Classifying Its Fleet as Held for ...
Scorpio BulkersDecember 20, 2020 GMT
MONACO, Dec. 20, 2020 (GLOBE NEWSWIRE) -- Scorpio Bulkers Inc. (NYSE: SALT) (the “Company”) today announced that following the recent sales of vessels by the Company, its Board of Directors has authorized the Company, as part of its transition to a sustainable future, to sell its remaining dry bulk vessels and exit the dry bulk sector during 2021. As a result of this decision, the Company expects to record a write-down ranging from $475.0 million to $500.0 million on vessels sold and classified as held for sale. This estimated write-down includes non-cash charges of $425.0 million to $440.0 million to reflect the current fair market value of the fleet and $50.0 million to $60.0 million of estimated cash charges, which include $34.0 million to $36.0 million for the termination of various vessel-related agreements, as well as other selling costs. The Company will also write-off approximately $10.0 million of deferred financing costs as outstanding debt is repaid.

New-york , United-states , Monaco , Exchange-commission , Scorpio-bulkers-inc , Marine-engineering-inc , Master-agreement , Scorpio-commercial-management , Scorpio-ship-management , Bulkers-inc , Daewoo-shipbuilding

Scorpio Bulkers Inc. Announces Exit from Dry Bulk Sector, Classifying Its Fleet as Held for Sale, Giving Notice to Terminate Agreements with Its Vessel Managers, and Intention to Change the Company Name

Home / Top News / Scorpio Bulkers Inc. Announces Exit from Dry Bulk Sector, Classifying Its Fleet as Held for Sale, Giving Notice to Terminate Agreements with Its Vessel Managers, and Intention to Change the Company Name
Scorpio Bulkers Inc. Announces Exit from Dry Bulk Sector, Classifying Its Fleet as Held for Sale, Giving Notice to Terminate Agreements with Its Vessel Managers, and Intention to Change the Company Name
MONACO, Dec. 20, 2020 (GLOBE NEWSWIRE) — Scorpio Bulkers Inc. (NYSE: SALT) (the “Company”) today announced that following the recent sales of vessels by the Company, its Board of Directors has authorized the Company, as part of its transition to a sustainable future, to sell its remaining dry bulk vessels and exit the dry bulk sector during 2021. As a result of this decision, the Company expects to record a write-down ranging from $475.0 million to $500.0 million on vessels sold and classified as held for sale. This estimated write-down includes non-cash charges of $425.0 million to $440.0 million to reflect the current fair market value of the fleet and $50.0 million to $60.0 million of estimated cash charges, which include $34.0 million to $36.0 million for the termination of various vessel-related agreements, as well as other selling costs. The Company will also write-off approximately $10.0 million of deferred financing costs as outstanding debt is repaid.

New-york , United-states , Monaco , Exchange-commission , Scorpio-bulkers-inc , Marine-engineering-inc , Scorpio-bulkers , Master-agreement , Scorpio-commercial-management , Scorpio-ship-management , Bulkers-inc