Scorpio Bulkers Inc. is an international shipping company that was incorporated in the Republic of the Marshall Islands pursuant to the BCA on March 20, 2013. In December 2013, we completed our underwritten initial public offering of 2,608,333 common shares at $117.00 per share, and in January 2014, the underwriters in the initial public offering exercised their option to purchase an additional 391,250 common shares. In February 2014, we completed our offer to exchange unregistered common shares that were previously issued in Norwegian equity private placements (other than the common shares owned by affiliates of us) for common shares that were registered under the Securities Act of 1933, as amended, or the Securities Act, which we refer to as the Exchange Offer. Upon completion of the Exchange Offer, holders of 7,980,565 unregistered common shares validly tendered their shares in exchange for such registered common shares, representing a participation rate of 99.7%. On July 31, 2014, we delisted from the Norwegian Over-the-Counter List, or Norwegian OTC List. Our common shares are listed for trading on the New York Stock Exchange, or NYSE, under the symbol "SALT."
Our principal executive offices are located at 9, Boulevard Charles III, Monaco 98000 and our telephone number at that location is +377-9798-5715. The SEC maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC. The address of the SEC's Internet site is http://www.sec.gov. The address of the Company's Internet site is http://www.scorpiobulkers.com/.
We are an international shipping company that owns and operates the latest generation of newbuilding drybulk carriers with fuel-efficient specifications and carrying capacities of greater than 30,000 dwt. All of our owned vessels have carrying capacities of greater than 60,000 dwt. Our vessels transport a broad range of major and minor bulk commodities, including ores, coal, grains, and fertilizers, along worldwide shipping routes, and are employed primarily in the spot market or in spot market-oriented pools of similarly sized vessels. As of the date of this annual report, our operating fleet of 57 vessels consisted of 56 wholly-owned or finance leased drybulk vessels and one time chartered-in drybulk vessel, which we refer to collectively as our "Operating Fleet" (see below table for details). Our owned and financed leased fleet has a total carrying capacity of approximately 3.9 million dwt.
|Comps ($MM TTM)||Market Cap||Gross Margin||EV/EBITDA||Ret on Assets||Assets||Liabilities||Revenue||G Profit||Net Income||EBITDA||EV|
|Knot Offshore Partners (KNOP)||591||0%||1,837||1,105||0||0||0||0||1,636|
|DHT Holdings (DHT)||581||0%||1,864||1,002||0||0||0||0||1,548|
|Navigator Holdings (NVGS)||513||0%||1,833||878||0||0||0||0||1,117|
|Marine Products (MPX)||509||22%||15.3||21%||119||37||244||55||25||32||486|
|International Seaways (INSW)||506||0%||9.5||-0%||1,829||846||343||0||-6||121||1,149|
|Teekay Offshore Partners (TOO)||505||0%||5,312||3,853||0||0||0||0||3,413|
|Scorpio Bulkers (SALT)||399||0%||-3.4||-19%||1,704||843||100||0||-324||-324||1,098|
|Genco Shipping & Trading (GNK)||391||0%||18.4||-2%||1,562||564||393||0||-39||40||743|
|Eagle Bulk Shipping (EGLE)||357||0%||15.1||-0%||970||479||308||0||-4||47||706|
|Diana Shipping (DSX)||330||0%||1,188||560||0||0||0||0||713|
|SEACOR Marine Holdings (SMHI)||319||27%||-21.4||-10%||1,041||546||227||60||-101||-33||708|
|Nordic American Tankers (NAT)||288||0%||1,071||469||0||0||0||0||675|
|MCBC Holdings (MCFT)||275||24%||8.3||8%||257||176||483||115||22||46||383|
|Teekay Tankers (TNK)||252||0%||2,161||1,214||0||0||0||0||934|
|Tsakos Energy Navigation (TNP)||230||0%||3,205||1,710||0||0||0||0||1,617|
|Safe Bulkers (SB)||181||0%||1,076||593||0||0||0||0||698|
|Balance Sheet ($MM)||2013-12-31||2014-12-31||2015-12-31||2016-12-31||2017-12-31||2018-12-31|
|Income Statement ($MM)||2013-12-31||2014-12-31||2015-12-31||2016-12-31||2017-12-31||2018-12-31|
|Cost of Revenue|
|Cash Flow ($MM)||2013-12-31||2014-12-31||2015-12-31||2016-12-31||2017-12-31||2018-12-31|