Greece's Star Bulk on Ship Buying Spree
Thursday, July 11, 2013
Star Bulk's 'Star Thetis': Photo courtesy of Star Bulk

Star Bulk Carriers contracts China's Shanghai Waigaoqiao Shipbuilding to build two Capesize dry bulk carriers, & also signs Letters of Intent with a major Japanese shipyard for construction of two Ultramax dry bulkers.

The eco-type, fuel efficient Capesize drybulk vessels are to be delivered in Q4 2015 and Q1 2016, respectively and similar specification Ultramax dry bulkers in 2015.

The aggregate purchase price of all four newbuilding vessels is approximately US$151.0 million.

In other news:
Star Bulk say they have been notified by the  receivers of STX Pan Ocean Co. Ltd. terminating the charter agreement for the vessel, Star Borealis, effective immediately. Currently, STX owes the Company approximately USD $653,000. Star Bulk intends to vigorously pursue all amounts owed to it under the charter agreement, including any related damages caused by the termination of the charterparty, under the STX rehabilitation proceedings, which have commenced in Korea.

Under the STX charter, this vessel earned a daily net time charter rate of USD $24,255. The Company has re-employed the vessel on a voyage charter at a daily time charter equivalent of approximately USD $27,000.

Additionally, the Company announced that it has chartered two of its Supramax vessels with major international companies; the Star Gamma is chartered for approximately one year at a gross daily time charter rate of USD $9,400 and the Star Omicron is chartered for minimum three months up to a maximum of five months at a gross daily time charter rate of USD $10,750.


Maritime Today

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

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


Henriksen Unveils Strongest SOLAS Boat Lifting Hook

H Henriksen of Norway has received SOLAS certification for a new off-load single-point boat lifting hook capable of holding up to 22.5-tonnes. The quick release

Evergreen Line Orders Ten 2,800 teu Ships

Taiwanese shipping company Evergreen is ordering ten 2,800 TEU container ships from Japanese shipbuilder Imabari Shipbuilding Co.,Ltd and compatriot CSBC Corporation.

Escort Tug Launched for Bay-Houston Towing

Eastern Shipbuilding Group, Inc. announced the launch of the Escort Tug H. DOUGLAS M (Hull 236) for Bay-Houston Towing Company on November 17, 2015. This series of Robert Allan, LTD.

Bulk Carrier Trends

Evoqua, Drew Marine Ink BWMS Deal

Evoqua Water Technologies and maritime solutions and logistics expert, Drew Marine, have announced a partnership to provide a full compliance package for ballast water management.

Need to Monitory Coal from Indonesia - UK P&I

There are various hazards associated with the trade in coal. UK P&I Club’s Loss Prevention Team highlights the risks involved, and advises on the relevant actions

Deltamarin to Designs First LNG Handysize Bulk Carriers

Deltamarin Ltd proudly announces that it has signed a contract to design the world’s first LNG handysize bulk carriers, which will point the way towards greener shipping of commodities.

Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Shipbuilding / Vessel Construction 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: 0.0837 sec (12 req/sec)