Scorpio Bulkers changes name to reflect transition to renewable energy

Scorpio Bulkers changes name to reflect transition to renewable energy

Scorpio Bulkers has announced plans to change its name to Eneti Inc. The name change highlights Scorpio Bulkers’ transition from dry bulk commodity transportation towards marine-based renewable energy including investing in the next generation of wind turbine installation vessels.

The company intends to sell or have commitments to sell its remaining wholly-owned or finance leased dry bulk vessels during the first quarter of 2021.

The change of the company’s name is subject to approval at an Extraordinary General Meeting to be held on February 3, 2021 for shareholders of record as of December 29, 2020.

In August 2020, Scorpio Bulkers announced its commitment to construct a Wind Turbine Installation Vessel (WTIV), with options for additional vessels. Emanuele A. Lauro, chairman and chief executive officer, said that this reflects the company’s commitment to a new and exciting journey that will see the transition towards more sustainable operations.

The company also announced today (January 7) that it has entered into an agreement with an unaffiliated third party to sell the SBI Lynx, a Kamsarmax bulk carrier built in 2018, for approximately $22.25 million. Delivery of the vessel is expected to take place in the first quarter of 2021.