Monaco-headquartered Scorpio Bulkers has sold 2015-built Ultramax pair SBI Leo and SBI Lyra.

The two vessels, which were financed via a sale-and-leaseback deal with China’s Avic Leasing in 2019, were sold for a total of around $35m.

Delivery of the vessels is expected to take place by the end of the first quarter of 2021, by which point Scorpio Bulkers plans to have exited the dry bulk sector. The company announced a transition to offshore wind in August last year and has since sold off a large chunk of its fleet.