Star Bulk Sells Capesize Ship, Settles Deiulemar Claim

Saturday, February 25, 2012
Star Bulk Carriers sold the 150, 940 dwt, 1991-built Star Ypsilon for $9.12m. (Photo: Star Bulk Carriers)

Star Bulk Carriers Corp. (Nasdaq: SBLK) has entered into an agreement to sell the Star Ypsilon, a 150,940 dwt Capesize vessel, built 1991, to a third party for a contracted sale price of $9.12 million. The Company plans to deliver the vessel to the buyers within March 2012. Also, Star Bulk announced that its subsidiary Star Beta LLC and Deiulemar Shipping S.p.A ("Deiulemar") agreed to settle all claims that were the subject of an ongoing arbitration. In connection with the settlement, the Company received a major portion of its arbitration claim and the arbitration proceedings were discontinued. In addition, the cash collateral posted by the Company as security in the arbitration proceedings was released and returned to the Company.

 
Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

Shipping Confidence Hits 2.5 Year Low

Overall confidence levels in the shipping industry fell to their lowest level for two-and-a-half years in February 2015, according to the latest Shipping Confidence

Baltic Sea Freight Index Up on Higher Capesize Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Tuesday, mostly on higher capesize rates.   The index,

Shipbuilding: Mitsui Delivers Bulk Carrier

Mitsui Engineering & Shipbuilding Co., Ltd. (MES) completed and delivered a 56,000 dwt type bulk carrier M.V. Desert Osprey (MES Hull No. 1862) at its Chiba Works

Ship Sales

OOCL Orders Six Ultra-Large Container Ships

Orient Overseas (International) Ltd. has placed a new order for six mega 20,000 teu container ships from South Korean shipbuilder Samsung Heavy Industries Co. for US$951.

DryShips to Sell its Suezmax Tanker Fleet

DryShips Inc. (NASDAQ: DRYS), has announced  that it has entered into firm sales agreements with entities controlled by the Company's Chairman and Chief Executive Officer,

MSC Acquires Second Boxship

MSC Oliver was inaugurated at the DSME shipyard in Busan, South Korea, just two months after the delivery of MSC OSCAR. This week, it was the turn of Oscar’s cousin,

Finance

MOL President Reports Slack Performance

MOL President, President, Koichi Muto reported that the performance of the company was slack. Presenting his report he stated:  I am sad to report that our business performance fell short,

Holland America Line Wins Sparkie Award

At a March 5 reception at the Seattle Waterfront Marriott, Holland America Line was presented with a Sparkie Award by the United Way of King County, Washington.

Knightsbridge Shipping, Golden Ocean Merger wrap up

Knightsbridge Shipping Limited has completed its previously announced merger with Golden Ocean Group Limited. In connection with the closing of the merger,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Pipelines Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1349 sec (7 req/sec)