Star Bulk Announces Agreement to Sell a Modern Capesize Vessel

StarBulk-Nasdaq

Star Bulk Carriers Corp. (NASDAQ: SBLK), a global shipping company providing transportation solutions in the dry bulk sector, announced that the Company has entered into an agreement to sell M/V Obelix (a 181,433 dwt Capesize vessel, built in 2011) to an unaffiliated third party, for $23.3 million, net of all commissions.

The Vessel is expected to be delivered to the Buyers during the first half of 2016. The Company intends to use a portion of the net proceeds from the sale of the Vessel for repayment of the outstanding debt amount related to the Vessel and the remainder for general corporate purposes, including capital expenditures.

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