Star Bulk Expands Fleet

Friday, May 23, 2008

Star Bulk Carriers Corp., announced that it has entered into a definitive agreement to acquire a Supramax bulk carrier of approx. 52,200 dwt, built in 2005, for approx. $68.8 million. The vessel, to be renamed the Star Cosmo, will be financed through a combination of company cash and bank debt.The Star Cosmo is scheduled to be delivered to Star Bulk within June/July 2008. 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.Following this acquisition, Star Bulk's fleet will increase to twelve vessels of approximately 1,033,850 dwt. With the addition of the Star Cosmo the contracted fleet operating days under time charter in 2008, 2009 and 2010 will be 100%, 81% and 56% respectively.

Maritime Today


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

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

Vessels

Hansa Offenburg, Hansa Drakenburg Sail Scale-free

Leonhardt & Blumberg was founded in 1903 and has managed more than 180 vessels, the majority of which were general cargo vessels and bulk carriers. Today the company

NASSCO Lays Keel for Jones Act Tanker Liberty

U.S. shipbuilder General Dynamics NASSCO hosted a keel laying ceremony on Thursday, May 26 for the Liberty, one of three new ECO Class Jones Act tankers under a

SAFE Boats Delivers First CIV for Air and Marine Operations

SAFE Boats International (SBI), a manufacturer of aluminum boats located in Bremerton, Wash., has completed the first Coastal Interceptor Vessel (CIV) on contract from U.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction Sonar
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: 0.0727 sec (14 req/sec)