Scorpio Bulkers (SALT) said it had modified the deals at yards in South Korea and Romania and agreed to sell four contracts to sister operation Scorpio Tankers (STNG), with an option to buy the other two.

STNG said the firm vessels are costing $51m each for delivery in the first three quarters of 2016.

The $52.5m options must be declared by 31 May next year for completion in the fourth quarter of 2016.

SALT