MONACO - (Marketwired – November 18, 2013) - Scorpio Bulkers Inc. (OSLO-OTC: SALT) (the "Company") announced that it has reached an agreement with Daewoo Shipbuilding and Marine Engineering Co., Ltd. ("DSME") to construct three Capesize dry bulk vessels of 180,000 dwt, at its subsidiary facility Daewoo Mangalia Heavy Industries S.A. in Romania, as listed below:

Yard
DWT
Delivery

Daewoo Mangalia Heavy Industries S.A.
180,000
Q4-15

Daewoo Mangalia Heavy Industries S.A.
180,000
Q4-15

Daewoo Mangalia Heavy Industries S.A.
180,000
Q1-16

The total purchase price for the vessels is around $162 million, equating to around $54m apiece.

Scorpio Bulkers Inc. is a provider of marine transportation of dry bulk commodities.  Scorpio Bulkers Inc. has contracted and agreed to purchase 26 “Ultramax”-size and 10 “Kamsarmax”-size newbuilding dry bulk vessels to be delivered starting from the first quarter of 2015 from shipyards in Japan and China.