Monaco-based dry bulk shipping company Scorpio Bulkers has entered into agreements to sell 2014-built SBI Puma and 2015-built SBI Cougar for a total of around $37.9m.

The company says the sale will generate around $16m of additional liquidity, with delivery scheduled in October.

Once the sale of the two Ultramaxes is complete, Scorpio Bulkers will have an operating fleet of 57 vessels comprising 52 wholly-owned or finance leased drybulk vessels and five time chartered-in vessels. The company’s owned and finance leased fleet will have a total carrying capacity of approximately 3.6 million dwt and all of the owned vessels will have carrying capacities of greater than 60,000 dwt.