Star Bulk offloads four capesize newbuilds

Star Bulk offloads four capesize newbuilds

Nasdaq-listed Greek owner Star Bulk Carriers has announced that it has entered into agreements to sell four newbuild capesize bulk carriers under construction in China at Shanghai Waigaoqiao Shipbuilding.

The four 180,000 dwt vessels, which were originally ordered in 2013, have been sold for a total price of $148m to an undisclosed buyer.

Star Bulk said that the vessels are expected to be delivered to the buyers during the first half of 2016, and it will use the net proceeds from the sale to pay the remaining delivery installments related to the vessels and for general corporate purposes, including capital expenditures.

The sale follows the disposal of two capesize and two kamsarmax vessels for $122m last month.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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