Scorpio Bulkers Inc. reports that the company has received a commitment for a loan facility of up to €10.37 million ($12.75 million) from a leading European financial institution. This is to finance the company’s Kamsarmax bulk carrier to delivered from Jiangsu New Yangzijiang Shipbuilding Co. in China in the third quarter of 2018.
The loan facility has a final maturity date of five years from delivery and bears interest at LIBOR plus a margin of 2.40 percent per annum. The terms and conditions are similar to those in the company’s existing credit facilities.
Monaco-based Scorpio Bulkers Inc. is a provider of marine transportation of dry bulk commodities and has an operating fleet of 56 vessels, consisting of 55 wholly-owned or finance leased drybulk vessels comprising 18 Kamsarmax vessels and 37 Ultramax vessels, and one time chartered-in Ultramax vessel.