Scorpio Bulkers Inc. Announces Newbuilding Agreements for
22 Dry Bulk Vessels for an Aggregate of $1,171 Million

Monaco - January 06, 2014

Scorpio Bulkers Inc. (NYSE: SALT) (OSLO-OTC: SALT) (the "Company") announced today that it has entered into agreements for the purchase of twenty Capesize dry bulk vessels and two Kamsarmax dry bulk vessels, as listed below:



The total purchase price for the vessels is approximately $1,171 million.

About Scorpio Bulkers Inc.
Scorpio Bulkers Inc. is a provider of marine transportation of dry bulk commodities. Scorpio Bulkers Inc. has contracted and agreed to purchase 28 Ultramax, 23 Kamsarmax and 23 Capesize newbuilding dry bulk vessels to be delivered starting from the second quarter of 2014 from shipyards in Japan, Korea, China and Romania. The fleet currently on order has a total carrying capacity of approximately 8 million Deadweight tonnes. Additional information about the Company is available at the Company's website www.scorpiobulkers.com, which is not a part of this press release.

Scorpio Bulkers Inc. press release