Scorpio Bulkers entered into an agreement with an unaffiliated third party to sell the SBI Leo and SBI Lyra, two Ultramax bulk carriers built in 2015, for approximately $35 million in aggregate. Delivery of the vessels is expected to take place in Q1/21.

Earlier last year, Scorpio Bulkers announced its intention to transition away from the business of dry bulk commodity transportation and toward marine-based renewable energy, including investing in the next generation of wind turbine installation vessels. The company intends to sell or have commitments to sell its remaining wholly-owned or finance leased dry bulk vessels during Q1/21.