Star Bulk Agrees to Sell 4 Capesize Vessels for $148 Million


Star Bulk, a global shipping company providing transportation solutions in the dry bulk sector, announced that it has entered into agreements to sell four newbuilding Capesize vessels under construction in China to unaffiliated third parties, for an aggregate gross price of $148 million.

The Vessels are expected to be delivered to the Buyers during the first and second quarter of 2016. The Company intends to use a portion of the net proceeds from the sale of the Vessels to pay the remaining delivery installments related to these Vessels and use the remainder for general corporate purposes, including capital expenditures.



Comments are closed.