Scorpio Bulkers Inc. Announces Newbuilding Agreements for Eight Dry Bulk Vessels for an Aggregate of $242 Million

Scorpio Bulkers Inc. Announces Newbuilding Agreements for Eight Dry Bulk 
Vessels for an Aggregate of $242 Million 
MONACO -- (Marketwired) -- 12/03/13 --  Scorpio Bulkers Inc.
(OSLO-OTC: SALT) (the "Company") announced today that it has entered
into agreements for the purchase of six Kamsarmax dry bulk vessels
and two Ultramax dry bulk vessels, as listed below: 


 
Yard                                              DWT            Delivery   
Shanghai Waigaoqiao Shipbuilding Co., Ltd        82,000           Q2-14     
Shanghai Waigaoqiao Shipbuilding Co., Ltd        82,000           Q3-14     
Jiangsu Yangzijiang Shipbuilding Co., Ltd.       82,000           Q3-15     
Jiangsu Yangzijiang Shipbuilding Co., Ltd.       82,000           Q3-15     
Jiangsu Yangzijiang Shipbuilding Co., Ltd.       82,000           Q4-15     
Jiangsu Yangzijiang Shipbuilding Co., Ltd.       82,000           Q1-16     
Mitsui Engineering & Shipbuilding Co., Ltd       60,200           Q3-16     
Mitsui Engineering & Shipbuilding Co., Ltd       60,200           Q3-16     

 
The total purchase price for the vessels is approximately $242
million. 
About Scorpio Bulkers Inc.  
Scorpio Bulkers Inc. is a provider of marine transportation of dry
bulk commodities. Scorpio Bulkers Inc. has contracted and agreed to
purchase 28 Ultramax, 16 Kamsarmax and three Capesize newbuilding dry
bulk vessels to be delivered starting from the second quarter of 2014
from shipyards in Japan, China and Romania. 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. Please see our filings with the
Securities and Exchange Commission for a more complete discussion of
these and other risks and uncertainties. 
Scorpio Bulkers Inc. 
646-432-1675
www.scorpiobulkers.com 
 
 
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