US-listed Scorpio Bulkers (SALT) has posted a bigger loss in the first quarter as its fleet grew.

The company said the net deficit to 31 March was $58.26m, compared to $52.06m in the same period of 2015.

It logged $10.24m of revenue, down from $12.27m the year before, despite adding eight new ships.

Costs were stable at $61m, with its loss from writing off vessels and assets held for sale falling to $12.4m