Scorpio Bulkers shares dive 12.6% as owner explains bold move into wind

It may not be an easy sell – at least not at first.

But Scorpio Bulkers' management team spent 90 minutes on Tuesday trying to sell its move into the wind sector even as they watched their shares dive nearly 12.6% in New York trading.

The discussion on a conference call with analysts came after Scorpio Bulkers announced a letter of intent with South Korea’s Daewoo Shipbuilding & Marine Engineering for its first wind turbine installation vessel (WTIV) in a $265m to $290m project.