Hong Kong: Star Bulk Carriers has announced that it has entered into agreements with CSSC (Hong Kong) Shipping Company, an affiliate of Shanghai Waigaoqiao Shipbuilding to bareboat charter two fuel efficient newcastlemax dry bulk carriers for ten years.
The contracts are expected to commence when the vessels are delivered to Star Bulk in November 2015 and February 2016.
Under the terms of the Bareboat Charters, Star Bulk has options to purchase the vessels at any time, which are exercisable monthly against a predetermined, amortizing balance payment whilst it has a respective obligation at the expiration of the bareboat term. [27/02/14]
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