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BRIEF-Scorpio bulkers Inc. announces vessel price reductions

Oct 3 Scorpio Bulkers Inc :

* Scorpio bulkers Inc. announces vessel price reductions and delay of scheduled vessel deliveries

* Vessels will now be delivered between October 2016 and January 2017

* Pursuant to delays, $59.1 million that was previously expected to be paid to shipyards during Q4 2016 is now expected to be paid in Q1 2017

* Reached agreements with shipyards to reduce price to be paid under shipbuilding contracts of 4 Kamsarmax vessels and two Ultramax vessels

* Also reached agreements to delay delivery of same six vessels by approximately one to three months each

* Reduced price to be paid under contracts of 4 Kamsarmax vessels,2 Ultramax vessels to be delivered between Q3 Q4 2016 by about $13 million Source text for Eikon: Further company coverage:

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