Star Bulk Sells Panamax Bulker for Demolition
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.
The vessel was acquired from Excel Maritime Carriers Ltd under an en bloc transaction of 34 vessels on August 19, 2014. Inclusive of Star Tatianna, the company has successfully disposed three of those vessels since the end of December 2014, as part of its broader fleet renewal and expansion strategy also including a 34/vessel, fully funded newbuilding program, expected to be completed in 2016.