Noble Group of Singapore is exploring the sale of four modern kamsarmax vessels in a potential $91m transaction with Scorpio Bulkers, sources say.
Singapore-listed Noble is said to be in discussions relating to the 82,000-dwt Ocean Integrity, Ocean Forte and Ocean Vision (all built 2015) as well as the Ocean Ambition (built 2014).
Initial reports from brokers had linked Tor Olav Troim’s 2020 Bulkers to the Longxue-built ships.
However, Magnus Halvorsen, who is responsible for the dry bulk efforts of Troim’s Magni Partners, said the bulker newcomer is not involved.
Now, Scorpio Bulkers is the name in the frame for the quartet in what would continue an active period of expansion for the company.
Brokers guide, however, that the completion of any purchase is some way off, with the transaction said to be on long subjects.
Both Noble and Scorpio declined to comment when contacted by TradeWinds.
Scorpio has bought 10 vessels in three separate deals during the past couple of months, using its stock as currency in some instances.
Scorpio turned away a potential $78m equity raise on 25 October, saying the pricing was below satisfactory levels to protect shareholder value.
Less than two weeks later, it pounced on four bulkers that it likely had in mind during the aborted equity raise.
This time it used both cash and shares in the $90m transaction, with the implied pricing of $8.10 per share greater than the $7.80 it would have received under the pulled deal.
However, veteran analyst Jonathan Chappell of Evercore ISI said future acquisitions likely would be supported by shares sales.
