Scorpio Bulkers has 79 ships on order which includes newbuildings penned directly by Scorpio and 37 resales.
Pressed on the issue of over-ordering by Ben Nolan of Stifel, Lauro said: "I think in every down market there are too many ships and in an upmarket there are not enough."
He told the Capital Link conference: "We were conscious of the fact that placing the extra orders was probably going to impact the bottom line supply.
"But
