Scorpio Bulkers Inc. announced that it has entered into agreements for the purchase of four Ultramax dry bulk vessels of 64,000 DWT currently under construction as well as for six Kamsarmax dry bulk vessels of 82,000 DWT.

The total purchase price for the vessels is around $278 million.

Scorpio Bulkers Inc. has contracted 26 Ultramax-size newbuilding vessels and has agreed to purchase 10 Kamsarmax- size vessels to be delivered starting from the first quarter of 2015 from shipyards in Japan and China.