Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargoes, has entered into definitive agreements to acquire two modern Kamsarmax dry bulk carriers from an unaffiliated third party for an aggregate total consi deration of approximately US $30.3 million.
Each of the vessels has a carrying capacity of 81,713 deadweight tons and was built with high speci fications at Jiangsu New Yangzi jiang in 2013. The vessels are expected to be delivered to Star Bulk between March and May 2017. Star Bulk is currently in advanced discussions with a financial institution to secure financing for up to 50% of the acquisition costs of the vessels.
Star Bulk, additionally, today announced that it took delivery of the Newcastlemax vessel Star Virgo (ex HN 1371), which is financed under a bareboat charter accounted for as a capital lease, from CSSC (Hong Kong) Shipping Company Limited.
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. On a fully delivered basis, Star Bulk will have a fleet of 74 vessels, with an aggregate capacity of 8. 2 million dwt, consisting of Newcastlemax, Capesize, Post Panamax, Kamsarmax, Panamax, Ultramax and Supramax vessels with carrying capacities between 52,055 dwt and 209,537 dwt. Star Bulk fleet currently includes 68 operating vessels, 2 vessels acquired and due for delivery and 4 newbuilding vessels under construction at shipyards in China. Additionally, Star Bulk has one chartered - in Supramax vessel, under a time charter expiring in September 2017.