Eneti (company)

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Eneti, Inc.
FormerlyScorpio Bulkers
Industryoffshore wind farm construction
Founded2013; 11 years ago (2013)
HeadquartersMonaco
Key people
  • Emanuele A. Lauro (CEO)
Owner
  • Independent (2013–23)
  • Cadeler (2023–present)
Websitewww.eneti-inc.com

Eneti, previously Scorpio Bulkers,[1] is a Monaco-based company specializing in offshore wind farm construction and services. Headquartered in Monaco, it is listed on the New York Stock Exchange[2] and has Emanuele A. Lauro as its CEO.[3]

On December 29, 2023, the firm was acquired by Cadeler.[4]

History[edit]

Scorpio Bulkers was founded in 2013 and completed its underwritten initial public offering on the New York Stock Exchange, or NYSE.[2] In August 2020, the company announced its transition from the dry bulk commodity transportation business to marine-based renewable energy.[5] The company’s decision to invest in a wind turbine installation vessel came as a surprise for the market.[6]

In 2020 Scorpio Bulkers lost more than $600 million due to impairments on ships sold or put up for sale.[7] Star Bulk took on seven Scorpio Bulkers’ ships seeking to capitalize on the company’s exit from dry bulk.[8]

In February 2021, the company’s name change to Eneti Inc. was approved at an extraordinary general meeting.[9] Company’s exit from dry bulk sector and name change is seen as a part of its transition to a sustainable future.[10] Eneti’s Board of Directors authorized the company to sell its remaining dry bulk vessels during 2021.[11]

The company signed shipbuilding contract with Daewoo Shipbuilding and Marine Engineering for the construction of two next generation wind turbine installation vessel to be delivered in 2024 and 2025.[12][13]

References[edit]

  1. ^ "Scorpio Bulkers to Change Name to Eneti". Maritime Logistics Professional. 2021-01-08. Retrieved 2021-05-04.
  2. ^ a b "History | Eneti". www.eneti-inc.com. Retrieved 2021-05-04.
  3. ^ Doorn, Philip van. "A little-recognized January catalyst could resurface big gains for these submerged stocks". MarketWatch. Retrieved 2021-05-04.
  4. ^ "Cadeler A/S (OB:CADLR) completed the acquisition of Eneti Inc." MarketScreener. Retrieved 2024-01-07.
  5. ^ "Scorpio Bulkers Changes Name to Eneti in Transition to Offshore Energy". The Maritime Executive. Retrieved 2021-05-04.
  6. ^ "Scorpio Bulkers: Renewables highly compelling market for our future". Offshore Energy. 2020-08-06. Retrieved 2021-05-04.
  7. ^ "Former Scorpio Bulkers lost more than USD 600 million in 2020 after exit from dry bulk". shippingwatch.com. 2021-03-09. Retrieved 2021-05-04.
  8. ^ "Star Bulk Takes on Seven Ships From Scorpio Bulkers". Ship & Bunker. Retrieved 2021-05-04.
  9. ^ "Scorpio Bulkers to change its name to Eneti". Riviera. Retrieved 2021-05-04.
  10. ^ "Scorpio Bulkers: Farewell to dry bulk & welcome to offshore wind". Offshore Energy. 2020-12-21. Retrieved 2021-05-04.
  11. ^ "Scorpio Bulkers moves ahead with offshore wind plans". 4c Offshore. Retrieved 2021-05-04.
  12. ^ "Scorpio Bulkers переходит в оффшорную энергетику и меняет название на Eneti Inc". Ukrainian Shipping Magazine - Новости судоходства Украины и мира (in Russian). 2021-01-08. Retrieved 2021-05-04.
  13. ^ Foxwell, David (12 May 2021). "Eneti confirms newbuild order and plan to construct Jones Act vessel for US market". Riviera.

External links[edit]

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