Star Bulk Carriers Corp. has entered into a definitive agreement to acquire a Capesize bulk carrier of approx. 180,000 dwt, built in 1991 in Japan, for approximately $83.7 million from Japanese interests. The vessel will be financed through a combination of company cash and bank debt. The vessel to be renamed the M/V Star Sigma, is scheduled to be delivered to Star Bulk within April/May 2008. It comes with a one-year time charter back to its present owners which will commence on the day of its delivery to Star Bulk at a gross rate of $100,000 daily thereby expected to add revenue in excess of $ 35 million during its twelve month employment under the time charter. Following this acquisition Star Bulk's fleet expands to ten vessels of approximately 927,000 dwt in total and an average age of approximately 11 years. The fleet operating days in 2008 are fully contracted under fixed rate time charters. Akis Tsirigakis, President and CEO of Star Maritime commented: "Capitalizing on our industry relations, we consistently implement our strategy of selective fleet expansion through accretive acquisitions, while seeking to secure strong, stable and predictable cash flows. We actively aim to enhance shareholder value and reinforce Star Bulk's competitive strengths in the dry bulk sector In this instance, the accretive acquisition of the M/V Star Sigma at a price nearly 2
Star Bulk Carriers Corp., a global shipping company providing transportation solutions in the dry bulk sector, today announced the sale of M/V Star Christianna (a 74,577 dwt Panamax vessel, built in 1998) to an unaffiliated third party. The company delivered the vessel to the buyers on June 23, 2015. Star Bulk has a fleet of 68 operating vessels. There are 26 newbuilding vessels under construction at shipyards in Japan and China
Greece's Star Bulk Carriers Corp. announce a recent incident involving their chartered bulker, 'Star Polaris' Star Bulk Carriers Corp. announce that their Star Polaris sustained main engine failure while sailing from the port of Dangjin, South Korea. The ship is currently docked in South Korea where it is undergoing repairs, which are expected to be completed in approximately four months. As a result, Star Polaris has been declared off hire by its charterers.
Star Bulk Carriers Corp. (Nasdaq: SBLK),a global shipping company focusing on the transportation of drybulk cargoes, announced that its Board of Directors declared a cash dividend of $0.05 per outstanding share of the Company's common stock for the three months ending September 30, 2011. The dividend is payable on or about December 6, 2011 to shareholders of record as of November 29, 2011. The Company also announced today its unaudited financial and operating results for the three and the nine
Star Bulk Carriers Corp. said that the company's Co-Chairman Nobu Su has resigned from his position as Co-Chairman of the Board with immediate effect due to his heavy workload and his other business activities. Su will remain as a Director. Co-Chairman Petros Pappas has assumed the role of sole Chairman of the Board.
Star Bulk Carriers Corp. has taken delivery of the Star Cosmo, a Supramax bulk carrier of approximately 52,247 dwt, built in 2005. The vessel comes with a staggered 3-year charter to Korea Line that commenced on March 17, 2008, at a gross daily rate of $55,900, $41,900 and $27,900 for the first, second and third year respectively. With the delivery of Star Cosmo, Star Bulk's operational fleet currently consists of twelve dry bulk carriers
Athens, Greece-headquartered Star Bulk Carriers says it has taken delivery of 'M/V Peloreus' a 182,000 dwt Capesize built by Japan Marine United (“JMU”) and the first of six similar vessels ordered at JMU, with expected deliveries until the 3rd quarter of 2015. The new ship will be employed in the spot market in order to take advantage of its modern design and fuel efficient specifications. Following the delivery of M/V Peloreus and inclusive of the two Kamsarmax vessels to be
Star Bulk Carriers Corp. announced that it has taken delivery of the Star Omicron, a Japanese built Supramax vessel of 53,489 dwt built in 2005. Upon delivery, Star Omicron commenced her three-year time charter employment at a gross daily rate of USD 43,000. The company has now taken delivery of all vessels they agreed to acquire, including the eight initial vessels from TMT and three additional vessels following the Completion of the Redomiciliation Merger.
Star Bulk Carriers Corp. announced that it has taken delivery of the Star Sigma, a Japanese built Capesize vessel of 184,400 dwt built in 1991. On delivery, Star Sigma has also commenced her one-year time charter employment at a gross daily rate of $100,000 followed by a three-year time charter employment at an average gross daily rate of $63,000. Star Bulk's fleet consists of eleven dry bulk vessels including three Capesize, one Panamax and seven Supramax vessels
Star Bulk Carriers Corp. announced it has agreed to a further three-year time charter for its capesize vessel Star Sigma. The three-year charter will commence in April 2009 when the current one-year time charter at a gross daily rate of USD 100,000 will expire. The three-year charter has gross daily charter average rate of $63,000 staggered as follows: USD 69,000 for the first year (April 2009-April 2010), USD 63,000 for the second year (April 2010-April 2011) and USD 57
Star Bulk Carriers Corp. a global shipping company providing transportation solutions in the dry bulk sector, today announced that the Company has entered into an agreement to sell ex yard a newbuilding resale Capesize vessel under construction in Japan to unaffiliated third parties (the
Investors suffered massive wealth erosion in 2015, as share prices of dry bulk companies kept tumbling during the year, says Drewry Maritime Equity Research (DMER). DMER’s shipping index, which is based on the market cap of leading dry bulk companies, was down ~43% in 2015
Star Bulk Carriers has entered into agreements to sell four newbuilding Capesize vessels to unaffiliated third parties for an aggregate gross price of $148mln. The vessels are currently under construction in China at Shanghai Waigaoqiao Shipbuilding.
Star Bulk Carriers, a global shipping company providing transportation solutions in the dry bulk sector, has reached agreements to sell four modern vessels, two capesize and two kamsarmax vessels. The vessels were sold for an aggregate gross price of $122m and are
Star Bulk Carriers has sold three vessels during the third quarter, a modern Supramax and two 90s built Panamax says Petros Pappas, Chief Executive Officer. Net sales proceeds for completed vessels sales were approximately $27.9 million in Q3 and we also received approximately $3
Dry bulk shipping faces more earnings pain as a slowdown in commodities demand and a glut of ships are expected to pile on the pressure well into 2016, ship industry players said on Wednesday. The dry cargo shipping industry has been hit hard this year by the global commodities meltdown
Dry bulk shipper Star Bulk Carriers Corp. announced the sale of a 58,722 dwt Supramax vessel, M/V Maiden Voyage, built in 2012 (tbr Astakos). Star Bulk said the vessel was delivered to its buyers, an unaffiliated third party, on September 15, 2015.
Star Bulk Carriers Corp. announced that on July 15, 2015 it took delivery of M/V Goliath and M/V Maharaj, two 209,000 dwt Newcastlemax bulk carriers built by Nantong COSCO KHI-Ship Engineering Co. In addition, on July 22, 2015 Star Bulk took delivery of M/V Star Aquarius, a 61
Star Bulk Carriers Corp. a global shipping company providing transportation solutions in the dry bulk sector, today announced the sale of M/V Star Mega, a 170,631 dwt Capesize vessel, built in 1994, to an unaffiliated third party.
Star Bulk Carriers Corp has added M/V Star Jennifer (ex "Ore Hansa), a 82,290 dwt Kamsarmax bulk carrier, built in 2006, to its fleet. The Company completed the acquisition of 34 vessels from Excel Maritime Carriers Ltd under an "en bloc" transaction announced on
Star Bulk Carriers Corp. took delivery on February 27 of M/V Honey Badger (ex HN NE 164) and M/V Wolverine (ex HN NE 165), two 61,000 dwt Ultramax bulk carriers built by Nantong COSCO KHI-Ship Engineering Co. (NACKS). The new vessels are the first two of four similar vessels ordered at NACKS
Five dry bulk shipping firms, including shipping tycoon John Fredriksen's Golden Ocean will form a new venture to coordinate chartering services, hoping to reduce costs in a fragmented market, the firms said in a joint statement. The firms, including Golden Ocean, Bocimar International, CTM
Shipping costs plunged to almost the lowest on record following tumbling demand for coal in China and weakening growth in the nation’s iron ore purchases, reports Bloomberg. The Baltic Dry Index, which tracks freight rates for ships carrying raw materials
Star Bulk Carriers Corp. has entered into an agreement to sell for demolition the M/V Star Tatianna (ex Fortezza), a 69,600 dwt Panamax vessel built in 1993, to an unaffiliated third party. Star Bulk expects to deliver the vessel to the buyers by early February 2015.
Star Bulk Carriers Corp. announced today that it plans to make an underwritten public offering of its common stock. The Company intends to use the net proceeds from the offering for its new building program and general corporate purposes.