Is Scorpio Bulkers’ $142.5m buy of six modern vessels the start of another build-up by the New York-listed owner, or a one-off acquisition?
Structural factors suggest it may be the latter, in the view of at least one equity analyst.
For Emanuele Lauro-led Scorpio to do much more, it would have to resort to equity raising, but the currency — its common stock — is not currently valued at a level that would make this attractive, notes Stifel analyst Ben Nolan.
