Star Bulk delays four bulker newbuildings

Star Bulk delays four bulker newbuildings

Star Bulk has agreed with its shipbuilders to delay delivery of four of its 19 newbuildings until 2016. The four were originally scheduled to arrive in the final quarter this year.

The NASDAQ-listed company did not reveal the specific vessels to be deferred, but shipping databases show that three capesizes and a Newcastlemax bulker were due to hit the seas this quarter.

The cape vessels are Bruno Marks, Jenmark and Star Aries (all 180,000 dwt); the Newcastlemax is Star Libra (208,000 dwt). All four have been built by Shanghai Waigaoqiao Shipbuilding in China.

Bruno Marks, Jenmark and Star Aries are now scheduled to arrive in January 2016, and Star Libra is now due in March next year, Star Bulk said in its financial report for the third quarter 2015. The deferrals are “subject to execution of definitive documentation”, the company added.

All in all, the Greek company now has five Newcastlemaxes, six capesizes and five 64,000-dwt ultramaxes scheduled for delivery in the first half of 2016. Three further Newcastlemaxes will follow in the second half of the year.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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