World News
Star Bulk Public Offering to Fund New Vessels
Greek bulk carrier Star Bulk Carriers Corp. [NASDAQ:SBLK] (Star Bulk) says it is selling 7 million shares at $8.80 per share in an effort to raise funds for new vessels.
The company expects to close the sale on October 7, 2013.
The company also granted underwriters a 30-day option to purchase another 1,050,000 common shares.
Proceeds will fund nine newbuilding vessels and provide money for future ship acquisitions and general corporate purposes.
The book-running manager for the offering is Morgan Stanley & Co. LLC, and Evercore Group L.L.C., Global Hunter Securities, LLC, Stifel, Nicolaus & Company, and Pareto Securities are acting as co-managers.
Star Bulk recently said it has ordered five fuel-efficient bulk carriers for a total of $214.9 million.
In July it announced that it had raised about $80.1 million, which it said would be used in part to buy four fuel-efficient ships.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 623.50 | 0.00 | 723.50 | 3.00 |
| Rotterdam | 568.00 | 2.00 | 741.50 | 4.50 |
| Houston | 595.50 | 10.50 | 765.50 | 15.50 |
| Fujairah | 628.50 | 0.50 | 874.50 | 6.50 |
| Global 20 Ports Average | 637.00 | 1.00 | 816.00 | 0.50 |
| Global 4 Ports Average | 604.00 | 3.50 | 776.50 | 3.00 |
| Global Average Bunker Price | 690.50 | 0.50 | 878.00 | 1.50 |
Popular Now More
-
May 16The first real data are starting to emerge on the cost paid by the container industry for shipping's inclusion in the European Union's emissions trading system. -
May 16The company is targeting 30-50% growth from this level of traded volumes in 2024, and in Q1 already saw 35% growth from the same period a year earlier, an Oilmar representative tells Ship & Bunker. -
May 16The firm has completed its first blockchain-enabled carbon insetting operation in partnership with 123Carbon and Bureau Veritas.