New York-listed Scorpio has sold a pair of capesizes and a single ultramax in sales worth a collective $111m.

Including today’s disposals Scorpio has now sold 16 newbuildings as it adjusts to the fact last year’s much anticipated market recovery did not arrive as planned.

Market sources indicate the latest ultramax being sold is under construction at Chengxi, while the capesizes are split between Sungdong and SWS. 

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