Star Bulk Closes Acquisition of 15 Dry Bulk Vessels
JUL 9, 2018 - 6:31 am
Star Bulk Carriers closed a previously announced acquisition of 15 operating dry bulk vessels from Songa Bulk ASA for an aggregate of 13.725 million common shares of Star Bulk and $145.0 million in cash.
Following the closing of the transaction, Arne Blystad will be appointed to the board of directors of Star Bulk as Class C director and Herman Billung will join the management team of Star Bulk as senior vice president.
Star Bulk is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk’s vessels transport major bulks, which include iron ore, coal and grain and minor bulks such as bauxite, fertilizers and steel products. Star Bulk was incorporated in the Marshall Islands on December 13, 2006 and maintains executive offices in Athens, Greece. On a fully delivered basis, Star Bulk will have a fleet of 108 vessels, with an aggregate capacity of 12.26 million dwt, consisting of 17 Newcastlemax, 18 Capesize, two Mini Capesize, seven Post Panamax, 35 Kamsarmax, two Panamax, 16 Ultramax and 11 Supramax vessels with carrying capacities between 52,055 dwt and 209,537 dwt.
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