Spyros Capralos News

05 Jan 2015

HHI Names 2 New Containerships in Ulsan

Naming Ceremony for Cezanne and Dali (Photo: HHI)

Hyundai Heavy Industries (HHI), hailed the New Year by naming two 10,000 TEU containerships for a Greek shipping line, Oceanbulk Maritime SA. The naming ceremony was attended by Spyros Capralos, chief executive officer of Oceanbulk; Nicos Rescos, chief operating officer of Oceanbulk; Yoon Moon-kyoon, chief operating officer of HHI’s shipbuilding division; and 44 other guests at HHI’s yard in Ulsan. At the simultaneous naming ceremony, the vessels were named after the famous French and Spanish painters, Cezanne and Dali respectively.

16 Jun 2014

Star Bulk Carriers to Buy Oceanbulk

52,434 dwt supramax bulk carrier Star Delta (Photo courtesy of Star Bulk Carriers)

Star Bulk Carriers Corp said it would buy Oceanbulk Shipping LLC and Oceanbulk Carriers LLC in an all-stock deal to create the largest U.S.-listed dry bulk shipper. Star Bulk is issuing 54.104 million new shares to buy the Oceanbulk companies, valuing the deal at about $653 million based on Star Bulk's Friday close of $12.07. The deal comes as the global dry bulk shipping industry is poised to recover from a severe downturn, helped by steadying demand for iron ore and coal from China and India and the scrapping of older vessels.

26 Nov 2013

Star Bulk Reports Improved 2013 3Q Results

Photo: Star Bulk

Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargoes, announced its unaudited financial and operating results for the three and the nine months ended September 30, 2013. Adjusted Net income for the third quarter of 2013 was $2.3 million compared to an adjusted net loss of $3.8 million during the same quarter in 2012. Adjusted Net income for the nine months ended September 30, 2013 was $7.6 million compared to an adjusted net loss of $0.6 million during the same period of the previous year.

18 Nov 2013

Star Bulk Acquires Two Ultramax Bulk Carriers

Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargos, announced that it has entered into definitive agreements to acquire two modern Ultramax bulk carriers, the M/V Supra Challenger I and M/V Supra Challenger II, from an unaffiliated third party for an aggregate total consideration of $58.1 million. The vessels have a carrying capacity of 61, 462 deadweight tons each and were built in Japan by Imabari Shipbuilding Group, in November of 2012 and September of 2013 respectively. The vessels, to be renamed Star Challenger and Star Fighter, are expected to be delivered to Star Bulk in early December 2013 and by January 15, 2014 respectively.

24 Sep 2013

Star Bulk Carriers AGM Approves Directorships, Auditors

Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargoes, held its Annual Meeting of Shareholders in Singapore recently. 1.The re-election of Mr. Petros Pappas and Mr. Star Bulk is a global shipping company providing worldwide 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 maintains executive offices in Athens, Greece. Its common stock trades on the Nasdaq Global Market under the symbol "SBLK". Currently, Star Bulk has an operating fleet of thirteen dry bulk carriers.

27 Aug 2013

Star Bulk Reports Profits for Q2, H1 2013

Photo: Star Bulk

Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargoes, today announced its unaudited financial and operating results for the second quarter and first half of 2013. Net profit for the first half of 2013 was $2 million compared to a loss of $4.5 million during the same period of the previous year. Spyros Capralos, President and Chief Executive Officer of Star Bulk, commented, “Star Bulk is a completely different company, following the successful equity raise of $80.1 million this quarter.

26 Jul 2013

Star Bulk Rights Offering Enables Newbuilding Orders

Bulk carrier: Photo courtesy of Star Bulk Carriers

Star Bulk Carriers Corp. announce successful completion of their previously announced $75 million backstopped equity rights offering and concurrent private placement. Due to the level of participation by existing shareholders, back stop providers were issued the minimum amounts under their purchase commitments and the total gross proceeds of this capital raising transaction increased to approximately $80.1 million. The Company has agreed to use the net proceeds from this offering to enhance liquidity and to partially fund the purchase price of our previously announced newbuilding program…

20 Mar 2013

Bulk Shipping Company Shaves Loss by Good Housekeeping

Greece's Star Bulk Carriers Corp. announce its unaudited financial & operating results for the 3 & the 12 months ended December 31, 2012. Star Bulk is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Its vessels transport major bulks, which include iron ore, coal and grain and minor bulks including bauxite, fertilizers and steel products. The company reported a net loss of about US$315-million in 2012. On January 2, 2013, Star Bulk announced that the Company had reached an agreement with its lenders for the deferral of a minimum of $20.2 million of its principal repayments and the relaxation of its financial covenants during 2013 and 2014.

09 Nov 2011

Star Bulk Carrier: 28% Drop in Freight Rates

Star Bulk Carriers Corp. (Nasdaq: SBLK),a global shipping company focusing on the transportation of drybulk cargoes, announced that its Board of Directors declared a cash dividend of $0.05 per outstanding share of the Company's common stock for the three months ending September 30, 2011. The dividend is payable on or about December 6, 2011 to shareholders of record as of November 29, 2011. The Company also announced today its unaudited financial and operating results for the three and the nine months ended September 30, 2011. The Company also announced today the results of the Annual GeneralMeeting of its shareholders held on Friday,October21, 2011.

10 Aug 2011

Star Bulk Execs Comment on Financial Results

Star Bulk Carriers Corp., a shipping company focusing on the transportation of drybulk cargoes, announced that its Board of Directors has declared a cash dividend of $0.05 per outstanding share of the company's common stock for the three months ending June 30, 2011. The dividend is payable on or about August 31, 2011 to shareholders of record as of August 25, 2011. The company also announced its unaudited financial and operating results for the second quarter and first half 2011. Spyros Capralos, President and CEO of Star Bulk, commented: "Despite the weak dry bulk market environment in the second quarter of 2011, we are pleased to report a profit of $0.03 per share and declare our ninth consecutive quarterly dividend of $0.05 per share.

13 May 2011

Star Bulk Acquires Two Capesize Vessels

Star Bulk Carriers Corp. (Nasdaq: SBLK),a global shipping company focusing on the transportation of dry bulk cargoes, today announced that it has entered into definitive agreements to acquire two Capesize bulk carriersfor an aggregate purchase price of approximately $51.5 million. The first Capesize vessel has a carrying capacity of approximately 168,000 dwt and was built in South Korea in 1996. This vessel has a time charter agreement with a major mining company until November 2015 at the earliest, at a gross daily rate of $25,000.

13 May 2011

Star Bulk Carriers Corp. Reports Q1 Results

Star Bulk Carriers Corp. (Nasdaq: SBLK),a global shipping company focusing on the transportation of dry bulk cargoes, today announced that its Board of Directors declared a cash dividend of $0.05 per outstanding share of the Company's common stock for the three months ended March 31, 2011. The dividend is payable on or about June 1, 2011, to shareholders of record as of May 23, 2011. The Company also announced today its unaudited financial and operating results for the first quarter ended March 31, 2011.

23 Feb 2011

Star Bulk Carriers Q4 & Year End Report

Star Bulk Carriers Corp. (Nasdaq: SBLK),a global shipping company focusing on the transportation of dry bulk cargoes, today announced that its Board of Directors declared a cash dividend of $0.05 per outstanding share of the Company's common stock for the three months ended December 31, 2010. The dividend is payable on or about March 10, 2011, to shareholders of record as of March 4, 2011. The company also announced today its unaudited financial and operating results for the fourth quarter and for the year ended December 31, 2010. Spyros Capralos, President and CEO of Star Bulk commented: "Our strong fourth quarter 2010 results of $0.38 per share excluding non-cash items were above Street estimates capping a solid financial year for our Company despite the volatile markets.

08 Feb 2011

Capralos Star Bulk CEO & President

Star Bulk Carriers Corp. (NASDAQ: SBLK), announced that Spyros Capralos has been appointed as President and Chief Executive Officer, to succeed Akis Tsirigakis, effective as of February 7, 2011. Capralos has also been appointed to the Board of Directors which is now comprised of eight members. Tsirigakis will continue to serve as a director. Tsirigakis' parting was mutually agreed, so he may pursue other interests. Capralos served, until October 2010, as Chairman of the Athens Exchange and Chief Executive Officer of the Hellenic Exchanges Group and was the President of the Federation of European Securities Exchanges. He was formerly Vice Chairman of the National Bank of Greece…

27 Sep 2002

QM2 Selected For 2004 Olympics

Cunard Line and Athens 2004, the organizing committee for the 2004 Olympic Games, today signed a memorandum of understanding to position Cunard's $800-million Queen Mary 2 in the Greek port of Piraeus to serve as a floating hotel during the Games. remain docked through August 30. "Cunard Line is delighted to be a part of this historic event in Greece, the birthplace of the Olympic Games," said Deborah Natansohn, the line's senior vice president, sales and marketing. According to Spyros Capralos, executive director, Athens Organizing Committee (ATHOC), "Queen Mary 2 will be the centrepiece in an 11-ship flotilla that will host up to 13,280 visitors.

Maritime Reporter E-News subscription

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email five times per week

Subscribe for Maritime Reporter E-News