Scorpio Bulkers Inc. (NYSE:SALT) (“Scorpio Bulkers,” or the “Company”) announced today that it has entered into an agreement to time charter in one Ultramax vessel.

The Company has entered into a time charter-in agreement with an unrelated third party on one Ultramax Vessel.

The agreement is for two years at approximately $10,125 per day with a Company option to extend the agreement for one year at approximately $10,885 per day.

The time charter is expected to commence prior to the end of October 2017.