Greek dry bulk giant Star Bulk Carriers has revealed more kamsarmax newbuilds in China as it works toward renewing its fleet portfolio.
The Nasdaq-listed owner and operator of around 115 bulkers has contracted three 82,000 dwt ships at Qingdao Shipyard on top of two units booked at the yard in October last year.
The first two newbuilds are set for delivery in 2025, while the remaining trio will be handed over in April and July 2026.
The company had recently taken delivery of one kamsarmax and an ultramax newbuild under seven-year charter-in deals, the first two in the series of six new ships set to deliver this year.
Star Bulk has also continued its trend of offloading older tonnage, agreeing to sell five ships in the past three months for a total of $112m, with four of them expected to be delivered to their new owners by April, including the recently reported 17-year-old capesize Big Bang.
The Petros Pappas-led firm is set to merge with US-based Eagle Bulk Shipping in an all-stock deal, with Star Bulk as the surviving entity. Star Bulk and Eagle Bulk shareholders should own about 71% and 29% of the combined company, respectively. Eagle Bulk shareholders will vote on the transaction on April 5.
