Star Bulk, ER Capital Shelve Vessel Deal

Maritime Activity Reports, Inc.

April 2, 2019

Pic: Star Bulk

Pic: Star Bulk

Star Bulk Carriers Corp and entities affiliated with E.R. Capital Holding GmbH & Cie. KG mutually waived their respective Call and Put Options relating to the four optional operating dry bulk vessels.

On August 29, 2018, Star Bulk, the global shipping company focusing on the transportation of dry bulk cargoes,  entered into an en bloc definitive agreement with entities affiliated with E.R. Capital to acquire three firm operating dry bulk vessels within 2018 and four optional operating dry bulk vessels.

Now the companies informed that they have walked away from a potential deal involving four capesize bullkers.

Pursuant to the above developments, Star Bulk has zero remaining equity capital expenditure due either for vessel acquisitions or for the Company’s scrubber program.

On a fully delivered basis, Star Bulk will have a fleet of 109 vessels, with an aggregate capacity of 12.45 million dwt, consisting of 17 Newcastlemax, 19 Capesize, 2 Mini Capesize, 7 Post Panamax, 35 Kamsarmax, 2 Panamax, 17 Ultramax and 10 Supramax vessels with carrying capacities between 52,055 dwt and 209,537 dwt.

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