Scorpio Bulkers (SALT) converted Bulkers into Tankers

Scorpio Bulkers (SALT) is converting 3 more capesize bulkers under construction in South Korea into long-range one (LR1) products tankers, the company confirmed this afternoon.
Robert Bugbee also said SALT will not convert any more bulkers into tankers.
SALT has a massive newbuilding orderbook approaching 70 units at a time when the dry-bulk market is scuffling along at trough rates. While it has most or all of its debt financing in place, it nonetheless faces pressure to reduce that total.