Eneti entered into an agreement with an unaffiliated third party to sell the SBI Thalia, SBI Athena, SBI Perseus, SBI Pisces and SBI Hercules for approximately $88 million.

The SBI Thalia and SBI Athena are Ultramax bulk carriers that were built in China in 2015. The SBI Perseus, SBI Pisces and SBI Hercules are Ultramax bulk carriers that were built in China in 2016.

The transaction remains subject to definitive documentation. Delivery of the vessels is expected to take place in Q2/21.

Eneti was formally known as Scorpio Bulkers until the company officially changed its name on Feb. 8. The company also previously announced its transition away from the dry bulk sector and toward marine-based renewable energy during 2021.