Company Presentation March 2018

Company Presentation March 2018

Company Overview Key Facts Fleet Profile Scorpio Bulkers Inc. ( Scorpio or the Company ) owns 56 (1) mid-size dry bulk Eco vessels with an average age of 2.1 years and time charters in one vessel 40 35 1 Owned TC/BB Chartered-In Newbuilding Scorpio s strategy is to: Capture rising freight rates by employing vessels in the spot market through the Scorpio Ultramax and Scorpio Kamsarmax pools 30 25 20 15 10 37 18 1 Operate vessels efficiently and minimize costs Maintain a strong balance sheet through conservative leverage 5 0 Ultramax Kamsarmax Scorpio Average Age vs. Worldwide Fleet Take advantage of market dislocation to opportunistically grow fleet The Company is headquartered in Monaco, incorporated in the Marshall Islands, exempt from U.S. income tax, has NYSE-compliant governance and transparency for foreign private issuers and is listed under the ticker SALT 10.0 9.0 8.0 7.0 6.0 5.0 4.0 Scorpio Bulkers 8.2 Active Fleet 8.7 3.0 2.0 2.2 1.8 1.0 0.0 Handymax/Ultramax Panamax/Kamsarmax 2 (1) Includes one kamsarmax newbuilding to be delivered in Q2-18.

Company Profile Company Details Ticker (NYSE) SALT Shares Outstanding (mm) 77.14 Insider Ownership 22% Last Price $7.85 52 Week Low $5.70 52 Week High $10.14 Quarterly Dividend $0.02 Market Cap ($m) (1) Trading Liquidity ($m/day) (1) $1,400 $1,200 $1,000 $800 $6 $4 Shareholders Ownership Top 10 59.1% 11-20 9.7% 21-30 3.9% 31+ 27.3% Total 100.0% $600 $400 $2 $200 $0 Golden Ocean Star Bulk Scorpio Bulkers Genco Diana Eagle Bulk Navios Partners Songa Bulk $0 Star Bulk Scorpio Bulkers Golden Ocean Diana Eagle Bulk Navios Partners Genco Songa Bulk 3 (1) Fearnley Securities, March 5, 2018

Company Highlights Youngest ECO dry bulk fleet High specification best-in-class fleet built at top tier yards with an average age of 2.1 years Attractive Mid Size Segment Mid size segment provides access to all types of dry cargo commodities Positive & Increasing EBITDA Reported $22.0 million in EBITDA in Q4-17, the fifth consecutive quarter of positive and increasing EBITDA Early stage recovery Significant operating leverage An increase in rates from $10,000 to $15,000 (50%) translates to a 120% increase in EBITDA, generating $3.76 in EBITDA per share Significant trading liquidity and inside ownership One of the most liquid dry bulk stocks with over $4 million in trading liquidity per day and insider ownership of 24% 4

# of Vessels Youngest Fleet in Mid Size Segments Handymax/Ultramax Panamax/Kamsarmax Average Age 60 12.0 11.3 50 10.4 9.9 10.0 18 9.0 40 26 8.3 7.7 8.0 30 31 6.0 6 6.0 20 37 48 38 29 32 4.0 10 2.2 24 17 26 2.0 0 Scorpio Bulkers Star Bulk Navios MH Eagle Bulk Safe Bulkers Golden Ocean Genco Diana 3 0.0 Source: Clarksons Shipping 5

Strengthening Market for Our Vessels The increase in reported TCE earnings over the last 2 years has defied traditional seasonality, and in the face of record newbuild deliveries, shows the underlying strength of the market and supports the continuation of the market recovery $14,000 $12,000 February 10, 2016 BDI hits 40 year low $12,605 $13,300 $10,886 $10,000 $8,000 $7,083 $7,238 $7,401 $9,164 $9,273 $9,211 $8,949 $8,230 $8,360 $9,800 $6,349 $6,000 $5,335 $5,263 $4,000 $3,462 $3,331 $2,000 $0 Q1-16 Q2-16 Q3-16 Q4-16 Q1-17 Q2-17 Q3-17 Q4-17 Q1-18* Ultramax Kamsarmax * Projections based on 63% and 74% of the days for the Ultramax fleet and Kamsarmax fleet, respectively as of January 30, 2018. 6

Cash Breakeven per Vessel ($/day) $12,000 $10,000 $9,875 $2,372 $8,000 $6,000 $5,826 $1,677 $1,004 $4,000 $2,000 $4,822 $0 OPEX Cash G&A Operating Breakeven Interest Principal Total Cash Breakeven 7 Principal Repayments are calculated using total debt repayments for 2018 divided by 55 vessels divided by 365 days. Source: Clarksons Research Services

($/day) Historical TC Rates 2003-2017 ($/day) $35,000 Ultramax Kamsarmax 34,323 $30,000 Operating Cash Breakeven Total Cash Breakeven 29,448 $25,000 $20,000 16,454 $15,000 13,875 14,875 11,563 $10,000 6,495 6,740 $5,000 $0 Min Jan-18 Average Max 8

Improving Financial Performance Revenue EBITDA $60 $50 $40 $30 $20 $10 $10.2 $17.4 $23.9 $26.8 $34.7 $37.7 $38.6 $51.1 $30 $20 $10 $0 -$10 -$20 -$17.0 -$5.8 -$1.3 $0.9 $7.3 $10.8 $12.4 $22.9 $0 Q1-16 Q2-16 Q3-16 Q4-16 Q1-17 Q2-17 Q3-17 Q4-17 -$30 Q1-16 Q2-16 Q3-16 Q4-16 Q1-17 Q2-17 Q3-17 Q4-17 Operating Cash Flow EBIT $25 $15 $5 -$5 -$15 -$25 -$35 $13.5 $2.5 $5.3 -$4.5 -$2.1 -$1.7 -$18.1 -$27.5 Q1-16 Q2-16 Q3-16 Q4-16 Q1-17 Q2-17 Q3-17 Q4-17 $10 $5 $0 -$5 -$10 -$15 -$20 -$25 -$30 -$35 $6.0 -$6.2 -$4.1 -$9.9 -$16.2 -$14.1 -$19.2 -$28.8 Q1-16 Q2-16 Q3-16 Q4-16 Q1-17 Q2-17 Q3-17 Q4-17 Figures in $USD millions. 9

Millions ($ USD) Significant Operating Leverage Historical One Year Time Charter Rates: 2003-2017 (1) Class Min Jan-18 Avg Max Ultramax $6,495 $11,563 $14,930 $29,448 Kamsarmax $6,740 $13,875 $16,561 $34,323 EBITDA Generation in Different Operating Environments $700 $600 An increase in rates from $10,000 to $15,000 (50%) translates to a 120% increase in EBITDA OPEX + Cash G&A EBITDA EBITDA/Share $5.1 $6.4 7.00 6.00 5.00 $500 $3.8 4.00 $400 $300 $1.1 $2.4 $290 $392 $494 3.00 2.00 1.00 $200 $100 $85 $188 $119 $119 $119 $119 $119 - (1.00) (2.00) $0 10,000 15,000 20,000 25,000 30,000 TC Rate ($/day) 1) Averages excludes TC rates from 2007/2008 where supramax and panamax vessels averaged $50,000/day 2) Based on 56 owned vessels Source: Clarksons Research Services (3.00) 10

Improving Financial Performance (cont d) P&L FY 2016 Q1-16 Q2-16 Q3-16 Q4-16 Q1-17 Q2-17 Q3-17 Q4-17 Revenues 78.4 10.2 17.4 23.9 26.8 34.7 37.7 38.6 51.1 EBITDA (23.1) (17.0) (5.8) (1.3) 0.9 7.3 10.8 12.4 22.9 EBIT (78.3) (28.8) (19.2) (16.2) (14.1) (9.9) (6.2) (4.1) 6.0 Net (loss) Income (99.9) (33.4) (24.7) (21.3) (20.6) (16.4) (13.4) (10.7) (1.1) Balance Sheet FY 2016 Q1-16 Q2-16 Q3-16 Q4-16 Q1-17 Q2-17 Q3-17 Q4-17 Total Assets 1,547.2 1,466.9 1,522.2 1,553.1 1,547.2 1,563.1 1,532.2 1,434.2 1,643.4 PP&E 1,414.1 1,183.3 1,244.8 1,318.3 1,414.1 1,363.5 1,352.5 1,340.3 1,541.5 Cash 101.7 230.2 241.7 200.9 101.7 126.6 149.3 62.4 68.5 Equity 956.6 941.5 989.0 972.7 956.6 926.0 916.2 908.5 917.4 Debt 579.5 510.0 523.4 570.8 579.5 628.2 606.3 515.1 715.6 Cash Flow FY 2016 Q1-16 Q2-16 Q3-16 Q4-16 Q1-17 Q2-17 Q3-17 Q4-17 Cash flow from operations (52.2) (27.5) (18.1) (4.5) (2.1) (1.7) 2.5 5.3 13.5 Cash flow from investing (235.4) 22.6 (23.0) (128.5) (106.4) (22.4) 43.3 0.1 (193.7) Cash flow from financing 189.0 34.8 97.8 47.0 9.3 49.0 (23.1) (92.4) 186.4 Figures in $USD millions. 11

Market Update 12

Overview of Dry Bulk Segments Asset Class Handysize & Handymax Supramax & Ultramax Panamax & Kamsarmax Capesize Vessel Size (DWT) 10-50k 50-65k 65-100k >100k Major Bulks Minor Bulks Iron Ore Coal Grain Bauxite Steel Scrap Cement Salt Forest Products Potash/Fertilizer Coke Nickel Ore Sugar Other 13

Our Vessels (1/2): Ultramax Vessel Details Ultramax vessels are the larger and more modern version of the supramax vessel. Size: 61,000 64,000 DWT Holds/Hatches: 5 Cranes/Grabs: Yes Ultramax Cargo Breakdown 2017 Logs, 2.7% Cement, 1.2% Sugar, 0.8% Load Regions Discharge Regions Ore, 5.7% Salt, 5.5% Coal US/Indonesia/South Africa/Russia India/China/Netherlands/Spain/I srael Dry Cargo (1),5.9% Coal Products, 33.2% Grain Argentina/Brazil/US/Russia Indonesia/Egypt/China/Japan/ Spain Fertiliser, 6.8% Minerals UAE(limestone)/Peru& Chile(copper/zinc)/Spain(gypsum) US/India/China/Mexico/Japan Steel Products, 9.3% Minerals, 12.7% Grain Products, 16.3% Steel Products China/Russia/Belgium/Korea US/Turkey/Spain/Italy/Mexico Fertilizer Morocco/Qatar/Russia US/China/New Zealand 14 Dry Cargo includes wood chips, wood pellets and aggregates Voyages commenced in 2017 for both spot and trip & period charter

Our Vessels (2/2): Kamsarmax Vessel Details Kamsarmax vessels are the larger and more modern version of the panamax vessel. Size: 81,000 84,000 DWT Holds/Hatches: 7 Cranes/Grabs: No Kamsarmax Cargo Breakdown 2017 Steel Products 4.2% Minerals, 9.3% Coal Load Regions US/Russia/Indonesia/Australia/South Africa Discharge Regions China/India/Netherlands/UK Italy Ore Brazil/Canada/Australia Netherlands/UK/Japan Grain 12.4% Grain Brazil, US, Argentina China/Korea/Vietnam/Saudi Arabia Ore, 12.8% Coal, 61.4% Minerals Brazil (Bauxite)/Australia (Aluminum/Bauxite) China/Germany/Ireland/ Canada Steel Products Russia/Brazil US/Netherlands 15

Industry Highlights Asset Values Recover Ultramax and Kamsarmax resale values have increased 14.6% and 18.4% yoy and 37.5% and 26.1% since January 2016, respectively TCE Rates Continue to Improve Eight sequential increases in reported TCE earnings for our Ultramax and Kamsarmax vessels and are still below historical average Positive Demand Outlook Dry bulk seaborne exports have increased at CAGR of 4.8% since 2009 Favorable Supply/Demand Dynamics For the first time since 2014, dry bulk ton mile demand growth (5.4%) outpaced fleet supply growth (3.0%) in 2017 Low Orderbook & Limited Newbuild Orders Orderbook as % of the fleet is 9.75% and NB orders in 2017 were 46% below the 20 year avg Regulatory requirements SALT is fully compliant with upcoming regulatory requirements which also are likely to increase scrapping 16

Time Charter Rates Historical Data 2009-2018 Class Jan-18 Avg Max Min Ultramax $11,563 $11,777 $24,375 $4,875 Kamsarmax $13,875 $12,892 $29,625 $5,363 BDI 1,242 1,409 3,941 307 Historical 1 Yr TC Rates 1 yr TC Rates (Last 12 months) $100,000 $16,000 1,800 $90,000 $80,000 $70,000 $14,000 $12,000 1,600 1,400 $60,000 $50,000 $40,000 $10,000 $8,000 1,200 1,000 $30,000 $20,000 $10,000 $6,000 $4,000 800 600 $0 $2,000 400 Kamsarmax (LHS) Ultramax (LHS) Kamsarmax (LHS) Ultramax (LHS) BDI (RHS) Source: Clarksons Research Services, March 2018 17

Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Asset Values In the last 12 months asset values have: Increased 14.6% and 15.4% for ultramax and kamsarmax resales, respectively. Increased 16.7% and 19.4% for ultramax and panamax 5 year old vessels, respectively. Increased 9.0% and 5.1% for ultramax and kamsarmax newbuildings, respectively. Resale values now exceed newbuilding values supporting expectations for continued market recovery Historical Asset Values $30 $28 $26 $24 $22 $20 $18 Newbuild & Resale Asset Values Ultramax NB Kamsarmax NB Ultramax Resale Kamsarmax Resale Five Year Old Asset Values 0 $60 $50 $40 $30 $20 $10 $0 $22 $20 $18 $16 $14 $12 $10 Ultramax NB Kamsarmax NB Panamax NB Figures in million US$, Source: Clarksons Research Services, March 2018 Ultramax 5 yr Kamsarmax 5 yr Panamax 5 yr 18

Million Tonnes Synchronized Global GDP Growth Drives Demand 2009-2018 Iron Ore Coal Grains Minor Bulks Total Dry Bulk CAGR 6.1% 4.7% 5.7% 3.9% 4.8% 5,000 4,000 3,837 4,074 4,330 4,584 4,833 4,832 4,909 5,103 5,243 1,972 3,424 3,000 1,402 527 2,000 321 1,221 1,000 804 897 1,524-2009 2010 2011 2012 2013 2014 2015 2016 2017 (e) 2018 (f) Iron Ore Coal Grain Minor Bulk Source: Clarksons Research Services, March 2018 19

Ton Mile Demand Grows Across Commodities Total Dry Bulk Coal 35,000 30,000 25,000 20,000 18,592 21,041 22,331 23,723 24,936 26,445 26,676 27,292 28,680 29,743 6,000 5,000 4,000 3,424 4,022 4,306 4,798 5,050 5,228 4,955 4,989 5,284 5,338 3,000 15,000 10,000 2,000 5,000 1,000-2009 2010 2011 2012 2013 2014 2015 2016 2017 (e) 2018 (f) - 2009 2010 2011 2012 2013 2014 2015 2016 2017 (e) 2018 (f) Grain Minor Bulk 4,500 14,000 4,000 3,500 3,000 2,500 2,221 2,460 2,398 2,600 2,793 3,001 3,301 3,400 3,714 3,853 12,000 10,000 8,000 7,586 8,705 9,312 9,624 10,172 10,618 10,773 10,979 11,448 11,959 2,000 6,000 1,500 1,000 4,000 500 2,000-2009 2010 2011 2012 2013 2014 2015 2016 2017 (e) 2018 (f) Figures in Ton Miles (Billions), Source: Clarksons Research Services, March 2018-2009 2010 2011 2012 2013 2014 2015 2016 2017 (e) 2018 (f) 20

Reduction in Coal Inventories Chinese Coal Inventory at Lowest Since 2012 Indian Coal Inventory at Lowest Level since 2014 140 45 130 127.5 40 38.9 120 35 110 30 100 25 90 20 80 15.7 70 63.0 15 60 10 50 50.0 5 8.0 40 0 Figures in Million Tonnes Source: Bloomberg 21

Dry Bulk Demand Outpaces Supply in 2017 For the first time since 2014, dry bulk ton mile demand growth (5.4%) outpaced fleet supply growth (3.0%) Increasing ton mile demand and global growth coincided with a limited orderbook provides favorable supply/demand dynamics 12.0% 10.8% Net Fleet Growth Ton Mile Demand 10.0% 8.0% 6.0% 6.4% 4.9% 5.8% 6.1% 4.4% 5.4% 4.0% 2.0% 2.4% 2.3% 2.1% 3.0% 2.6% 1.9% 0.0% 0.9% 2012 2013 2014 2015 2016 2017 2018P 2019P Net fleet growth for 2018/2019 assumes scrapping amount as 2017 (14.5 million DWT, or 1.7% of current fleet) and newbuilding vessels deliver as scheduled. Source: Clarkson Research Services 22

DWT (Millions) DWT (Millions) Favorable Supply Dynamics Fleet Development Before Scrapping (1) Newbuilding Deliveries Per Year (2) 120 1,000 Capesize Panamax Handymax Handysize Capesize Panamax Handymax Handysize 900 800 821.5 96.4 853.0 100.0 879.1 101.2 898.0 902.2 101.9 101.9 100 99.9 100.4 81.4 700 600 195.9 201.5 204.4 206.0 206.4 80 63.0 500 400 203.7 210.7 217.3 220.5 221.0 60 44.5 48.4 49.2 47.2 40 38.4 36.2 300 29.8 25.2 25.4 200 325.4 340.8 356.2 369.5 373.0 20 20.6 100 - Current 2018 2019 2020 2021 (1)Does not assume slippage or scrapping (2) Assumes newbuildings deliver as scheduled, Source: Clarksons Research Services, March 2018-2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018* 2019* 2020* 23

Feb-03 Feb-04 Feb-05 Feb-06 Feb-07 Feb-08 Feb-09 Feb-10 Feb-11 Feb-12 Feb-13 Feb-14 Feb-15 Feb-16 Feb-17 Feb-18 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Millions Low Orderbook & Limited Newbuild Ordering Orderbook as % of the fleet is 9.75% Newbuilding orders in 2017 were 36.2m DWT, 33% below the 20 year avg of 48.1m DWT Historically Low Orderbook as % of Fleet Newbuilding Orders (DWT) 90% 180 80% 160 159.4 70% 140 60% 120 50% 100 101.5 102.2 103.2 40% 80 76.4 63.9 30% 60 20% 40 36.6 33.129.5 37.0 41.7 36.2 10% 9.75% 20 12.2 15.3 9.6 22.4 15.2 8.9 22.3 24.4 25.3 14.6 0% 0 Source: Clarksons Research Services, March 2018 24

($/ldt) Scrapping Expected to Increase Fleet Age Profile Scrap Price ($/ldt) 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 0-4 5-9 10-14 15-19 20+ 5% 6% 8% 5% 15% 12% 8% 14% 9% 12% 15% 11% 49% 40% 36% 43% 27% 30% 32% 23% Cape Panamax Handymax Handysize Fleet Scrapping (Million DWT) 500 $445 450 400 350 $230 300 250 200 Feb-16 May-16 Aug-16 Nov-16 Feb-17 May-17 Aug-17 Nov-17 Feb-18 Scrapping Avg Age 40 35 30 33.4 30.7 29.3 32 30 25 23.3 23.2 28 20 15 10 5 0 8.2 6.1 4.2 0.4 1.0 1.8 0.5 5.6 10.6 6.6 16.4 14.5 26 24 22 20 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Source: Clarksons Research Services, March 2018 Handymax Panamax 25

Ballast Water Treatment Regulations All of SALT s vessels are fitted with BWTS From 2019 to 2024 the IMO will require shipowners to install a ballast water treatment system during their five year drydock BWTS are expected to cost $500,000 to $1.5 million and depends on the type and size of vessel Retrofits on older, existing ships, can be more challenging and expensive as they were designed without the space in the engine room to fit BWTS (see photos below that show how large BWTS are) Will be substantial push factor encouraging scrapping of older vessels BWTS Filtering Unit BWTS Piping in Engine Room 26

New Sulfur Emission Regulations in 2020 The International Maritime Organization (IMO) will require shipowners to reduce sulfur emissions from 3.5% currently to 0.5% in 2020. To comply, shipowners will have to decide between: 1. Installing a scrubber to enable the vessel to burn HFSO; or 2. Paying the premium to consume MGO with a sulfur content < 0.5% Scrubbers can cost $3-$10 million depending on the size of the ship. Modern fuel efficient ships have a competitive advantage over older tonnage through lower fuel consumption ECO Ships make a difference. Increase in scrapping expected as the cost to equip older tonnage with scrubbers is not viable Historical FO & MGO Prices ($/MT) (1) $1,200 $1,000 $800 $600 $400 $200 $0 Feb-14 Aug-14 Feb-15 Aug-15 Feb-16 Aug-16 Feb-17 Aug-17 Feb-18 Rotterdam Singapore Houston Source: Clarksons Research Services/Ocean Connect March 2018 27

Appendix 28

Overview of Credit Facilities Financial Institution Commitment (1) ($ in millions) $156.3 $148.7 $87.2 $61.0 $42.6 $40.5 $38.7 $36.5 $26.3 Excellent current relationship and enhanced reputation with lenders Competitively priced bank debt held by original lenders. As a tier 1 borrower our terms and conditions for loans are improving No restricted cash held in liquidity, drydock or BWTS accounts No dividend restrictions, cash sweeps, PIK interest or other unattractive features No overhang of deferred amortization and all amortization following original schedules $19.3 Total Committed $657.0 Total Debt (incl Senior Notes) $730.6 Current and projected covenant compliance Low LTV loans financing best-in-industry fleet 29 (1) As of December 31, 2017

Repayments ($ in Millions) Projected Debt Amortization Total Debt Senior Notes Principal $67.5M-CF $409M-CF $12.5M-CF $330M-CF $27.25M-CF $42M-CF $19.6M-CF $85.5M-CF $12.75M-CF $38.7M-CF $700.0 $600.0 $500.0 $400.0 $49.3 $46.2 $73.6 $7.8 $148.1 ($ in Millions) 2018-2019 Quarterly Amortization Q1-18 13.4 Q2-18 12.5 Q3-18 12.0 Q4-18 11.4 Q1-19 11.1 Q2-19 10.8 Q3-19 85.0 Q4-19 12.9 $730.6 $54.9 $300.0 $18.1 $15.5 $200.0 $162.1 $100.0 $28.7 $20.7 $13.1 $15.5 $100.0 $75.2 $2.3 $52.9 $10.5 $0.0 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 30

Fleet List Owned Vessels # Name Year Yard Type # Name Year Yard Type 1 SBI Athena 2015 Chengxi Ultramax 29 SBI Aries 2015 Chengxi Ultramax 2 SBI Bravo 2015 Nacks Ultramax 30 SBI Gemini 2015 Chengxi Ultramax 3 SBI Antares 2015 Nacks Ultramax 31 SBI Taurus 2015 Chengxi Ultramax 4 SBI Leo 2015 Dacks Ultramax 32 SBI Pisces 2016 Chengxi Ultramax 5 SBI Echo 2015 Imabari Ultramax 33 SBI Virgo 2017 Chengxi Ultramax 6 SBI Lyra 2015 Dacks Ultramax 34 SBI Libra 2017 Chengxi Ultramax 7 SBI Subaru 2015 Dacks Ultramax 35 SBI Puma 2014 Chengxi Ultramax 8 SBI Tango 2015 Imabari Ultramax 36 SBI Jaguar 2014 Chengxi Ultramax 9 SBI Maia 2015 Nacks Ultramax 37 SBI Cougar 2015 Chengxi Ultramax 10 SBI Hydra 2015 Nacks Ultramax 38 SBI Samba 2015 Imabari Kamsarmax 11 SBI Pegasus 2015 Chengxi Ultramax 39 SBI Rumba 2015 Imabari Kamsarmax 12 SBI Ursa 2015 Dacks Ultramax 40 SBI Capoeira 2015 Hudong Kamsarmax 13 SBI Thalia 2015 Chengxi Ultramax 41 SBI Electra 2015 Yangzijiang Kamsarmax 14 SBI Cronos 2015 Imabari Ultramax 42 SBI Carioca 2015 Hudong Kamsarmax 15 SBI Orion 2015 Chengxi Ultramax 43 SBI Conga 2015 Hudong Kamsarmax 16 SBI Achilles 2016 Imabari Ultramax 44 SBI Flamenco 2015 Hudong Kamsarmax 17 SBI Hercules 2016 Chengxi Ultramax 45 SBI Bolero 2015 Hudong Kamsarmax 18 SBI Perseus 2016 Chengxi Ultramax 46 SBI Sousta 2016 Yangzijiang Kamsarmax 19 SBI Hermes 2016 Imabari Ultramax 47 SBI Rock 2016 Yangzijiang Kamsarmax 20 SBI Zeus 2016 Mitsui Ultramax 48 SBI Lambada 2016 Hudong Kamsarmax 21 SBI Hera 2016 Mitsui Ultramax 49 SBI Reggae 2016 Hudong Kamsarmax 22 SBI Hyperion 2016 Nacks Ultramax 50 SBI Zumba 2016 Hudong Kamsarmax 23 SBI Tethys 2016 Nacks Ultramax 51 SBI Macarena 2016 Hudong Kamsarmax 24 SBI Phoebe 2016 Chengxi Ultramax 52 SBI Parapara 2017 Hudong Kamsarmax 25 SBI Poseidon 2016 Mitsui Ultramax 53 SBI Mazurka 2017 Hudong Kamsarmax 26 SBI Apollo 2016 Mitsui Ultramax 54 SBI Swing 2017 Hudong Kamsarmax 27 SBI Samson 2017 Chengxi Ultramax 55 SBI Jive 2017 Hudong Kamsarmax 28 SBI Phoenix 2017 Chengxi Ultramax 56 TBN SBI Lynx 2018 Yangzijiang Kamsarmax 31