Scorpio Bulkers' decision to charter in four kamsarmaxes and sell two ultramaxes during the last quarter was an optimistic move, according to president Robert Bugbee.
Kamsarmax spot rates have gone up to $18,506 per day from $10,310 per day, according to Baltic Exchange.
"We believe we're moving to stronger times," Bugbee said during Monday's second-quarter earnings call.
"Obviously, kamsarmaxes with scrubbers are going to have a better position to IMO returns than ultramaxes without scrubbers.
