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Scorpio Bulkers Inc. Announces the Refinancing of a Kamsarmax Vessel

Scorpio Bulkers Inc. announced that the Company has entered into a financing transaction in respect of one of the Company’s Kamsarmax vessels with an unaffiliated third party. As part of the transaction, the Company will sell a 2015 Japanese built Kamsarmax dry bulk vessel, SBI Samba, for a consideration of $21.4 million and then lease back.

Man lost over board off Queensland

A crew member who disappeared from the "SBI Samba" off the Queensland coast, and was presumed dead, may have vanished after drinking a toxic substance. Crew raised the alarm on Jan 12, 2017, at 6 p.m.when the 47-year-old Filipino man could not be found on board, and about five hours after he was last seen. By the time the Australian Maritime Safety Authority was able to launch a full air and sea search, the ship was now more than 100km away from the area, between Innisfail and Lucinda. Rescue helicopters, and the Townsville Water Police searched until last light. By Jan 13 the search area spanned 800 square nautical miles and was combed with the help of AMSA's search and rescue plane, six other fixed wing planes and the same rescue chopper used the previous day. In total, eight aircrafts and five vessels were involved in the search. The "SBI Samba", continued heading south for Hay Point, near Mackay, on Jan 13. That night, experts suggested the man - if he was in the water - had run out of time, and was certainly dead. After arriving at Hay Point in the evening, the "SBI Samba" was boarded by Queensland Police officers. Police were unable to elaborate on the nature of the substance he may have drunk but have said the death is not considered suspicious. Officers will now prepare a report for the coroner. The ship owners Scorpio Bulkers were in touch with the Australian Federal Police and AMSA following the incident. The company would leave the investigation in the hands of the AFP, given it's a missing person case. Queensland Police was leading the investigation.