Eneti Inc. Announces the Sale of Ultramax Vessels

Monaco - Feb 16, 2021

Eneti Inc. (NYSE: NETI) (the “Company”) announced today that the Company has entered into agreements with unaffiliated third parties to sell the SBI Cronos, an Ultramax bulk carrier built in 2015, and SBI Achilles, an Ultramax bulk carrier built in 2016, for approximately $39.75 million in the aggregate.

Delivery of the vessels is expected to take place in the second quarter of 2021.

About Eneti Inc.
Eneti Inc. announced on August 3, 2020, its intention to transition away from the business of dry bulk commodity transportation and towards marine-based renewable energy including investing in the next generation of wind turbine installation vessels.

The Company intends to sell or have commitments to sell its remaining wholly-owned or finance leased dry bulk vessels during the first quarter of 2021.

Additional information about the Company is available on the Company’s website www.Eneti-Inc.com, which is not a part of this press release.

Eneti Inc. press release