Scorpio Bulkers' first-quarter loss wipes out 2019 profit

Dire dry cargo markets in the first quarter have caused Scorpio Bulkers to post a loss that more than wipes out the net profit it recorded for 2019 overall.

For the first three months of 2020, the New York-listed bulker owner recorded a $108m adjusted net loss, equivalent to a $15.65 loss per share, compared to $4.0m in profit a year earlier.