Scorpio Bulkers continues its bulker fleet clearout having entered into an agreement to sell the 2016-built Ultramax bulker SBI Phoebe.

The vessel has fetched a price of $17.65m and delivery of the vessel is expected to take place in the first quarter of 2021.

Scorpio Bulkers announced its intention to exit the dry bulk sector during 2021 and is investing in wind turbine installation vessels.

The company has recently sold eight vessels and has contracted to sell seventeen additional vessels, all of which are expected to close in the first half of 2021. Scorpio Bulkers also intends to sell its 24 remaining wholly-owned or finance leased dry bulk vessels during 2021.