GRM Investments has emerged as a major shareholder in New York-listed Scorpio Bulkers.
It has snapped up an 8.65% slice of the company, an SEC filing said.
Based on the last trade of the Scorpio Bulkers' stock GMR’s 2,482,583 shares are worth $9.31m.
GMR has not previously disclosed any interest in either Scorpio Bulkers or sibling, Scorpio Tankers.
Scorpio Bulkers has been actively selling ships from its vast orderbook, with Robert Perri of Axia Capital suggesting the company now has the the ability to weather at least another two years of a down market.
“While
