Scorpio Bulkers Inc. Announces the acquisition of 15 dry bulk vessels
for an aggregate of $455 million

Monaco - October 7, 2013

Scorpio Bulkers Inc. (OSLO-OTC: SALT) (the "Company") announced today that it has entered into various agreements for the purchase of eleven Ultramax dry bulk vessels of 60,000 DWT to 64,000 DWT and four Kamsarmax dry bulk vessels of 81,000 DWT to 84,000 DWT from yards in Japan and China, as listed below:

The total purchase price for the announced agreements is around $455 million.

About Scorpio Bulkers Inc.
Scorpio Bulkers Inc. is a provider of marine transportation of dry bulk commodities. Scorpio Bulkers Inc. has contracted 22 “Ultramax”-size newbuilding vessels and has agreed to purchase 4 “Kamsarmax”- size vessels to be delivered starting from the first quarter of 2015 from shipyards in Japan and China. Additional information about the Company is available at the Company's website, which is not a part of this press release.

Scorpio Bulkers Inc. press release