Star Beta Enters Time Charter

Monday, November 03, 2008

Star Beta Enters Time Charter

Star Bulk Carriers Corp. (NASDAQ:SBLK) announced that the 1993-built Capesize vessel M/V Star Beta has entered into period employment with Brazil's Companhia Vale do Rio Doce (Vale) for a minimum of two and a maximum of four months at the gross daily rate of $15,500 for the first 50 days and $25,000 for the days beyond 50 plus a repositioning ballast bonus of $525,000.

Following this employment, Star Bulk's contracted fleet operating days under time charter in 2008, 2009 and 2010 is currently 100%, 80% and 66% respectively.

Akis Tsirigakis, President and CEO of Star Bulk, commented: "This contract minimizes our exposure to the volatile shipping markets we are currently experiencing as all of our vessels are contracted for the remainder of 2008."

Star Bulk is a global shipping company providing seaborne transportation solutions in the dry bulk sector. Star Bulk's vessels transport major bulks, which include iron ore, coal and grain and minor bulks such as bauxite, fertilizers and steel products.

Star Bulk was incorporated in the Marshall Islands on December 13, 2006 and is headquartered in Athens, Greece. Its common stock and warrants trade on the NASDAQ Global Market under the symbols "SBLK" and "SBLKW" respectively. Currently, Star Bulk has an operating fleet of twelve dry bulk carriers. The total fleet consists of four Capesize and eight Supramax dry bulk vessels with an average age of approximately 9 years and a combined cargo carrying capacity of 1,106,250 deadweight tons.

(www.starbulk.com)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Norsafe Secures Contract with VARD Group

Norsafe informs it has signed a new contract with VARD Group, and will supply lifeboats complete with davit systems to a series of 15 new vessels.    Topaz Energy

IOMAXIS Awarded $245 Mln Contract to Support NRL

Contract will allow IOMAXIS to provide research, development and technical support to initiatives at the Naval Research Lab   IOMAXIS, provider of technologies

Demand, Bunker Pricing Spurs Asia Dry Bulk-Capesize Rates

Owners asking $1 per tonne more on Australia-China rates; Panamax rates climb to two-month high, but remain under pressure. Freight rates for large capesize

 
 
Maritime Careers / Shipboard Positions Naval Architecture Offshore Oil Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0813 sec (12 req/sec)