Chek the Channels
Meet 125 Mgmt Teams
Scorpio Bulkers (SALT)
Asset Sales Enhance Liquidity. Will Dry Bulk Market Remain Firm?
Scorpio Bulkers (SALT) owns/operates a fleet of 56 dry bulk vessels, including 37 Ultramax and 19 Kamsarmax dry bulk vessels. The Ultramax and Kamsarmax sectors are the upper end of the range for the Handymax sector, and the sector is characterized by onboard cranes to allow the loading/unloading of cargo. SALT moves both major and minor bulk around the world. SALT actively markets and manages the fleet internally (both commercial and technical) and also charters in dry bulk vessels to expand operating leverage.
Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to full report for price target, fundamental analysis and rating.
- Asset sales and recent financings boost liquidity and enhance financial flexibility. Agreement reached to sell two Ultramaxes for $37.9 million in early 4Q2019. Liquidity should improve by $16.0 million after debt repayment.
- Dry Bulk market improving despite continued trade overhang. Despite the continued overhang of global trade tensions and sluggish global economic growth, the dry bulk market has been stronger than expected in 3Q2019...
This Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.