Star Bulk Announces Agreement to Sell Capesize Vessel for $37M

StarBulk-Nasdaq

Star Bulk Carriers Corp. (NASDAQ: SBLK) announced that the Company has entered into an agreement to sell ex yard a newbuilding resale Capesize vessel under construction in Japan to unaffiliated third parties, for $37 million.

The Vessel is expected to be delivered to the Buyers by the end of January 2016.

The Company intends to use a portion of the net proceeds from the sale of the Vessel for the remaining delivery installment related to the Vessel and use the remainder for general corporate purposes, including capital expenditures.

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