Monaco-registered bulker owner Scorpio Bulkers Inc. has inked agreements with unaffiliated third parties to sell three Capesize dry bulk vessels and two newbuild Capesize dry bulk vessels under construction.

The proceeds from the sale total approximately US$167m, according to Scorpio.

Three of the Capesize vessels were constructed in Korea and delivered to Scorpio last year.

The remaining two vessels are currently being constructed in Korea and are forecast to be delivered in the first quarter of 2016.