Scorpio Bulkers Inc. (“Scorpio Bulkers,” or the “Company”) announced that the Company has entered into a financing transaction in respect of one of the Company’s Ultramax vessels with an unaffiliated third party. As part of the transaction, the Company will sell a 2016 Japanese built Ultramax dry bulk vessel, SBI Hermes, for a consideration of $20.5 million and then lease it back from the buyer through a five-year bareboat charter agreement at a rate of $5,850 per day.