Star Bulk to Repay Debt Principal
Star Bulk Carriers announced that, in light of the improved performance of the Company and the dry bulk market in general, it is planning to make debt principal repayments that are in total at least equivalent to the amortization payments scheduled prior to the commencement of debt amortization holidays. The repayment will start from January 1st 2018, under the “cash sweep” mechanism incorporated in its loan agreements. Star Bulk had previously agreed with its Lenders debt amortization holidays that commenced on June 1st 2016 and were due to end on June 30th, 2018.
Star Bulk Completes Merger
Star Bulk Carriers Corp. (NASDAQ:SBLK), or Star Bulk, announced the completion of the Redomiciliation Merger by which Star Maritime has merged with and into Star Bulk with Star Bulk as the surviving entity. Star Bulk's common stock and warrants have been approved for listing on the NASDAQ Global Market under the symbols "SBLK" and "SBLKW" respectively. Trading under said symbols is expected to commence on Monday, December 3, 2007. The Company expects to take delivery of its first vessel early next week. Each outstanding share of Star Maritime common stock, par value $0.0001 per share, has been converted into the right to receive one share of Star Bulk common stock…
Star Bulk Carriers Announces Private Placement
Star Bulk Carriers Corp. announced the closing of its previously announced private placement of 6,310,272 common shares, at a price of $8.154 per share. The aggregate proceeds to Star Bulk, net of underwriting fees and offering expenses, were approximately $50.6 million. Star Bulk intends to use the net proceeds for general corporate purposes. Oaktree Capital Management, L.P. and its affiliates and Senator Investment Group LP purchased 6,310,272 common shares in connection to this offering.
Star Bulk Rolls Out Logistics Venture
Star Bulk Carriers, a global shipping company focusing on the transportation of dry bulk cargoes, announced the expansion and diversification of the Company's commercial activity with the launch of the new subsidiary Star Logistics Management S.A. Star Logistics will focus on servicing the end user by connecting origination and destination of dry bulk commodities. The move is expected to further expand the commercial capability of Star Bulk through additional commercial expertise and advanced tools on the Kamsarmax and geared bulk carriers.
Star Bulk to Acquire 34 Drybulk Vessels
Star Bulk entered into a definitive agreement with Excel Maritime Carriers Ltd., and as a result, will acquire 34 drybulk vessels for an aggregate of 29.917 million shares of common stock of Star Bulk and $288.39 million in cash. Star Bulk Carriers Corp. announced today that it has entered into definitive agreements with Excel Maritime Carriers Ltd. pursuant to which the company will acquire 34 secondhand operating drybulk carriers, consisting of six Capesize vessels, 14 sistership Kamsarmax vessels…
Star Bulk Carriers to Buy Oceanbulk
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.
Star Bulk Expands Fleet
Star Bulk Carriers Corp. announced that it has entered into a definitive agreement to acquire the M/V Nord Wave, to be renamed the M/V Star Omicron, a Supramax bulk carrier of 53,489 dwt, built in 2005 in , for $72m. The vessel will be financed through a combination of company cash and bank debt. The M/V Star Omicron, is scheduled to be delivered to Star Bulk within April 2008. It has been acquired charter-free and Star Bulk intents to secure the vessel under time-charter employment prior to its delivery to Star Bulk in April 2008. Following this acquisition, Star Bulk's fleet will increase to eleven vessels of approximately 981,648 dwt and an average age of approximately 10 years.
Star Bulk Adds Three Vessels
Star Bulk Carriers Corp. announced that on July 15, 2015 it took delivery of M/V Goliath and M/V Maharaj, two 209,000 dwt Newcastlemax bulk carriers built by Nantong COSCO KHI-Ship Engineering Co. In addition, on July 22, 2015 Star Bulk took delivery of M/V Star Aquarius, a 61,000 dwt Ultramax bulk carrier built by Japan Marine United. Following these deliveries, Star Bulk owns seventy-two dry bulk vessels on the water, consisting of three Newcastlemax, eighteen Capesize, four Post-Panamax…
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.
Star Bulk Raising Market Funds for Newbuildings
Star Bulk Carriers Corp. announce an underwritten public offering of common shares with the intention to use the net proceeds of the offering to partially fund the acquisition of nine identified newbuilding vessels, future vessel acquisitions and general corporate purposes, including working capital. The company also intends to grant the underwriters a 30-day option to purchase additional shares of common stock representing 15% of the offered shares. The common shares are being offered pursuant to the company’s effective shelf registration statement. Morgan Stanley is acting as the sole book-running manager for the offering. Star Bulk is a global shipping company providing worldwide seaborne transportation in the dry bulk sector.
Star Beta Enters Time Charter
Star Bulk Carriers Corp. (NASDAQ:SBLK) announced that the 1993-built Capesize vessel M/V Star Beta has entered into period employment with Brazil's Companhia Vale do Rio Doce (Vale) for a minimum of two and a maximum of four months at the gross daily rate of $15,500 for the first 50 days and $25,000 for the days beyond 50 plus a repositioning ballast bonus of $525,000. Following this employment, Star Bulk's contracted fleet operating days under time charter in 2008, 2009 and 2010 is currently 100%, 80% and 66% respectively. Star Bulk is a global shipping company providing 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 Maritime Announces Results of Stockholders Meeting
Star Maritime Acquisition Corp., a Delaware corporation, announced that at its special meeting of stockholders held yesterday, its stockholders voted to approve by an overwhelming majority the acquisition by Star Maritime's wholly-owned Marshall Islands subsidiary, Star Bulk Carriers Corp. of eight drybulk carriers from subsidiaries of TMT Co., Ltd. and the merger of Star Maritime with and into Star Bulk, with Star Bulk as the surviving corporation.
Star Bulk Charters Two Newbuilds
Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargos, announced that it has entered into agreements with CSSC (Hong Kong) Shipping Company Limited, an affiliate of Shanghai Waigaoqiao Shipbuilding Co. Ltd of China (SWS) to bareboat charter, two fuel efficient Newcastlemax dry bulk vessels, hull numbers 1372 and 1371 each with a cargo carrying capacity of 208,000 deadweight tons, which are currently under order at SWS, at a monthly hire rate for each CSSC vessel ranging between $371,000 to $410,800 plus LIBOR.
Star Bulk Carriers Relocates, Appoints Kleopas
Star Bulk Carriers Corp., a shipping company focusing on the transportation of dry bulk cargoes, announced that it has moved its executive offices to new premises at 40 Agiou Konstantinou Str, 15124 Maroussi, Greece. All interested parties are asked to update their records accordingly. Star Bulk also announced the appointment of Zenon Kleopas as the Company's new Chief Operating Officer. Kleopas has over 30 years of experience in the shipping industry and served as General Manager of Combine Marine Inc. before joining Star Bulk.
Star Bulk-Board of Directors Resignation
Star Bulk is a global shipping company providing seaborne transportation solutions in the dry bulk sector. (www.starbulk.com)
Star Bulk Receives $24.3M for Star Ypsilon Settlement
Star Bulk Carriers Corp. (NASDAQ: SBLK), announced that the claim involving the vessel Star Ypsilon has been settled. Under the settlement, the Company has received the amount of $22.22m as settlement for the unrealized revenues due to the interruption of the time charter of the Star Ypsilon that occurred in July 2009. Star Bulk received separately the amount of $2.08m for unpaid charter hire, bunkers and interest, bringing the total amount collected to $24.3m in relation to full and final settlement of this claim. Akis Tsirigakis, President and CEO of Star Bulk, commented: "We are delighted to have collected $24.3 million, or approximately $0.39 per Star Bulk share outstanding, as settlement for the Star Ypsilon claim.
Star Bulk Sells Bulker Quartet
Star Bulk Carriers, a global shipping company providing transportation solutions in the dry bulk sector, has reached agreements to sell four modern vessels, two capesize and two kamsarmax vessels. The vessels were sold for an aggregate gross price of $122m and are expected to be delivered to the new buyers during the first quarter of 2016. "We have entered into agreements to sell two modern Capesize vessels and two modern Kamsarmax vessels to unaffiliated third parties, for an aggregate gross price of $122 million," says a company statement.
Star Bulk Acquires Bulk Carrier
Star Bulk Carriers Corp. has entered into a definitive agreement to acquire a Capesize bulk carrier of approx. 180,000 dwt, built in 1991 in Japan, for approximately $83.7 million from Japanese interests. The vessel will be financed through a combination of company cash and bank debt. The vessel to be renamed the M/V Star Sigma, is scheduled to be delivered to Star Bulk within April/May 2008. It comes with a one-year time charter back to its present owners which will commence on the day of its delivery to Star Bulk at a gross rate of $100,000 daily thereby expected to add revenue in excess of $ 35 million during its twelve month employment under the time charter.
Star Bulk Enters Chartering Pool
Star Bulk Carriers Corp. a global shipping company focusing on the transportation of dry bulk cargoes, announced that it has entered into a Capesize vessel pooling agreement (“CCL”) with BOCIMAR INTERNATIONAL NV, GOLDEN OCEAN GROUP LIMITED and C TRANSPORT HOLDING LTD. Star Bulk has agreed to market nine of the Company’s Capesize dry bulk vessels, which had previously been operating in the spot market, as part of the CCL fleet. Together with Star Bulk’s nine vessels, CCL initially consists of 65 modern Capesize vessels and will be managed in Singapore and in Antwerp.
Star Bulk Acquires Supramax
Star Bulk Carriers, a global shipping company focusing on the transportation of dry bulk cargoes, has announced that it has entered into a definitive agreement to acquire a Supramax dry bulk carrier from an unaffiliated third party. The acquisition will be partly financed through debt secured from a financial institution. The Vessel has a carrying capacity of 56,582 deadweight tons and was built to high specifications at Jiangsu Hantong Shipyard, China in 2011. The Vessel is expected to be delivered to Star Bulk during the month of July 2017.
Star Bulk Adds Jennifer
Star Bulk Carriers Corp has added M/V Star Jennifer (ex "Ore Hansa), a 82,290 dwt Kamsarmax bulk carrier, built in 2006, to its fleet. The Company completed the acquisition of 34 vessels from Excel Maritime Carriers Ltd under an "en bloc" transaction announced on August 19, 2014. Pursuant to the completion of the Excel Vessel Fleet acquisition, the Company has currently 162,684,541 shares of common stock outstanding. Star Bulk currently owns seventy dry bulk vessels on the water…
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.
Star Bulk Updates Employment Status of Star Beta
Under the related time charter agreement, ICI was obligated to pay Star Bulk a gross daily charter hire rate of $106,500 until February 2010. In turn, ICI sub-chartered the vessel for one year to Oldendorff Gmbh & Co. KG of (Oldendorff) at a gross daily charter hire rate of $130,000 until February 2009. ICI has assigned its rights and obligations under the sub-charter to Star Bulk in exchange for it being released from the remaining term of the ICI charter. Oldendorff has notified Star Bulk that it considers the assignment of the sub-charter to be an effective repudiation of the sub-charter by ICI. Star Bulk believes that the assignment is valid and that its position will prevail in this dispute.