Shipping company Scorpio Bulkers is to change its name to Eneti as part of its move into offshore wind.
The New York Stock Exchange-listed outfit said the revamped branding is subject to approval at an EGM on 3 February.
Scorpio has already laid out its intention to transition away from the business of dry bulk commodity transportation towards marine-based renewable energy.
It has pledged to invest in next generation wind turbine installation vessels, having already signed a letter of intent with Daewoo Shipbuilding and Marine Engineering for delivery of a jack-up in 2023.
The vessel is a GustoMSC NG-16000X design and includes a 1500 leg encircling crane (LEC) from Huisman Equipment.
The total project cost is expected to be approximately $265-$290m, subject to final design modifications.
There are options in the agreement to build three more.
The company intends to sell or have commitments to sell its remaining wholly-owned or finance leased dry bulk vessels during the first quarter of 2021.
Scorpio chief executive Emanuele Lauro said previously: “Scorpio Bulkers is embarking on a new and exciting journey.
“The world urgently needs to reduce emissions and offshore wind will make a pivotal contribution. We appreciate the encouragement and assistance of multiple partners – including suppliers, customers, and shipbuilders – as we take a significant first step in transitioning the Company towards a sustainable future.
“This strategic direction now aligns with our future customers, investors, finance providers and the growing momentum in global public policy.”