Scorpio Bulkers will exit the dry bulk business with a new name.
In an official news release, Monaco-based Scorpio Bulkers has confirmed its plans to exit the dry bulk commodity transportation business, in favour of one which is focused on marine-based renewable (wind) energy. Towards this end, the company intends to change its name to Eneti Inc.
Plans for this transition were announced back in August 2020, which included making substantial investments in wind turbine installation vessels. South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) will construct one such vessel at a cost of 265 – 290 million USD, to be delivered by 2023.
The remaining dry bulk vessels still entirely owned or financed by the company are intended to be sold in the first quarter of 2021.
