Scorpio Bulkers Inc. Announces the Acquisition of 15 Dry Bulk Vessels for an Aggregate of $455 Million

Scorpio Bulkers Inc. Announces the Acquisition of 15 Dry Bulk Vessels for an 
Aggregate of $455 Million 
MONACO -- (Marketwired) -- 10/07/13 --  Scorpio Bulkers Inc.
(OSLO-OTC: SALT) (the "Company") announced today that it has entered
into various agreements for the purchase of eleven Ultramax dry bulk
vessels of 60,000 DWT to 64,000 DWT and four Kamsarmax dry bulk
vessels of 81,000 DWT to 84,000 DWT from yards in Japan and China, as
listed below:  


 
    Yard                                                DWT       Delivery  
1   Mitsui Engineering & Shipbuilding Co., LTD          60,200    Q2-16     
2   Mitsui Engineering & Shipbuilding Co., LTD          60,200    Q2-16     
3   Imabari Shipbuilding Co., Ltd                       61,000    Q2-15     
4   Imabari Shipbuilding Co., Ltd                       61,000    Q3-15     
5   Imabari Shipbuilding Co., Ltd                       61,000    Q4-15     
6   Imabari Shipbuilding Co., Ltd                       61,000    Q1-16     
7   Nantong COSCO KHI Ship Engineering Co. Ltd          61,000    Q2-16     
8   Nantong COSCO KHI Ship Engineering Co. Ltd          61,000    Q2-16     
9   Chengxi Shipyard Co. Ltd                            64,000    Q2-16     
10  Chengxi Shipyard Co. Ltd                            64,000    Q2-16     
11  Chengxi Shipyard Co. Ltd                            64,000    Q3-16     
12  Tsuneishi Group (Zhoushan) Shipbuilding Inc.        81,600    Q3-15     
13  Tsuneishi Group (Zhoushan) Shipbuilding Inc.        81,600    Q1-16     
14  Imabari Shipbuilding Co., Ltd                       84,000    Q1-15     
15  Imabari Shipbuilding Co., Ltd                       84,000    Q3-15     

 
The total purchase price for the announced agreements is around $455
million. 
About Scorpio Bulkers Inc. 
Scorpio Bulkers Inc. is a provider of marine transportation of dry
bulk commodities. Scorpio Bulkers Inc. has contracted 22
"Ultramax"-size newbuilding vessels and has agreed to purchase 4
"Kamsarmax"- size vessels to be delivered starting from the first
quarter of 2015 from shipyards in Japan and China. Additional
information about the Company is available at 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," "intends,"
"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. 
Scorpio Bulkers Inc. 
646-432-1675 
 
 
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