A disclosure to the US Securities and Exchange Commission (SEC) said Bugbee had bought 10,000 more shares in the US-listed bulker owner.

This is the third such acquisition by the president of Scorpio Bulkers in less than two months following buys in May and June.

While it is not stated how much Bugbee paid for his latest shares, they were worth $88,000 at the close of trading on Wednesday when the shares were worth $8.80