Bloomberg News

Scorpio Is Raising Equity for Fuel-Efficient Dry-Bulk Carriers

June 21, 2013

Scorpio Group is raising equity for a fleet of fuel-efficient ships that will carry minerals and grains, according to an investment bank handling the plan.

“We are working together with the Scorpio Group in raising equity for Scorpio Bulkers,” Erik Helberg, chief executive officer of Oslo-based RS Platou Markets AS, said in an e-mail today. He declined to specify how much money was being raised, where shares would be listed or how many ships would be ordered. “Focus will be on eco newbuilds,” he said.

Scorpio Bulkers will be separate from Scorpio Tankers Inc. (STNG:US), which operates 40 vessels hauling refined fuels and has ordered 54 more, according to its website. Shares rose 21 percent to $8.61 this year in New York trading. The receptionist at the group’s Monaco headquarters asked for a request for comment by e-mail, which wasn’t answered.

To contact the reporter on this story: Isaac Arnsdorf in London at iarnsdorf@bloomberg.net

To contact the editor responsible for this story: Alaric Nightingale at anightingal1@bloomberg.net


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Companies Mentioned

  • STNG
    (Scorpio Tankers Inc)
    • $7.7 USD
    • 0.20
    • 2.6%
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