Scorpio Bulkers Inc. Announces Commitment For A $42.0M Loan Facility

Scorpio Bulkers Inc.

(the "Company") announced today that it has received a commitment from a leading European financial institution for a loan facility of up to $42.0 million (the "Facility"). The Facility will be used to finance up to 60% of the market value upon delivery of two Kamsarmax vessels currently under construction at Imabari Shipbuilding Co. Ltd., Japan. The Loan Facility has a final maturity of six years from the date of delivery of each vessel. The terms and conditions of this commitment are consistent with those of the Company's existing credit commitments. The Facility is subject to customary conditions precedent and the execution of definitive documentation.