Scorpio Bulkers Inc. announces the acquisition of 10 dry bulk vessels for an aggregate of $278 million

MONACO – (Marketwired – November 7, 2013) – Scorpio Bulkers Inc. (OSLO-OTC: SALT) (the "Company") announced today that it has entered into agreements for the purchase of four Ultramax dry bulk vessels of 64,000 DWT currently under construction as well as for six Kamsarmax dry bulk vessels of 82,000 DWT as listed below:

Yard

DWT

Delivery
1

Chengxi

64,000

Q1-15

2

Chengxi

64,000

Q4-15

3

Chengxi

64,000

Q2-16

4

Chengxi

64,000

Q2-16

5

Hudong-Zhonghua

82,000

Q3-15

6

Hudong-Zhonghua

82,000

Q4-15

7

Hudong-Zhonghua

82,000

Q1-16

8

Hudong-Zhonghua

82,000

Q2-16

9

Hudong-Zhonghua

82,000

Q3-16

10

Hudong-Zhonghua

82,000

Q3-16

The total purchase price for the vessels is around $278 million.

About Scorpio Bulkers Inc.

Scorpio Bulkers Inc. is a provider of marine transportation of dry bulk commodities.  Scorpio Bulkers Inc. has contracted 26 “Ultramax”-size newbuilding vessels and has agreed to purchase 10 “Kamsarmax”- size vessels to be delivered starting from the first quarter of 2015 from shipyards in Japan and China. Additional information about the Company is available at the Company's website www.scorpiobulkers.com, which is not a part of this press release.