Star Bulk announces agreement to sell four modern vessels for $122 million
Star Bulk Carriers Corp., a global shipping company providing transportation solutions in the dry bulk sector, has 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, the company said in its press release.
The vessels are expected to be delivered to the buyers during the first quarter of 2016. About Star Bulk 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 which include 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 Select Market under the symbol "SBLK".
On a fully delivered basis, Star Bulk will have a fleet of 84 vessels, with an aggregate capacity of 9.7 million dwt, consisting of Newcastlemax, Capesize, Post Panamax, Kamsarmax, Panamax, Ultramax, Supramax and Handymax vessels with carrying capacities between 45,588 dwt and 209,537 dwt. Our fleet currently includes 70 operating vessels and 19 newbuilding vessels under construction at shipyards in Japan and China. All of the newbuilding vessels are expected to be delivered through 2016. Additionally, the Company has one chartered ‐ in Supramax vessel, under a time charter expiring in September 2017.