Monaco’s Scorpio Bulkers has entered into an agreement to sell the 2016-built Ultramax bulker SBI Tethys for around $18.25m.

Delivery is scheduled for the first quarter of 2021, and the sale price is roughly in line with the $18m valuation placed on the bulker by VesselsValue. The identity of the buyer was not revealed.

Since announcing plans to move into the offshore wind sector in August, Scorpio has sold 21 bulkers and is down to a fleet of just 28 owned vessels.