Scorpio Bulkers reports income boost in second quarter but overall loss for first half of 2018

Scorpio Bulkers' SBI Samba ffa5995d181a68f34f12d434de180904
Scorpio Bulkers' SBI Samba ffa5995d181a68f34f12d434de180904

Scorpio Bulkers has reported a net income of US$0.8 million for the second quarter of 2018, an improvement on the same period in 2017, which saw a net loss of US$13.4 million.

Total vessel revenues for the second quarter of 2018 were US$60.6 million, compared to US$37.7 million for the same period in 2017.

Earnings before interest, taxes, depreciation and amortisation for the second quarter of 2018 and 2017 were US$28.1 million and US$10.8 million, respectively.

For the six months ending on June 30, 2018, Scorpio's net loss was $US5.0 million an improvement over the same period in 2017, where it's GAAP net loss was US$48.0 million. 

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