World News
Star Bulk Sells 4 Dry Bulk Carriers
Star Bulk Carriers Corp. (Star Bulk) Tuesday announced the company has entered into an agreement to sell four of its dry bulk vessels.
The sale will include two modern Capesize vessels and two modern Kamsarmax vessels, the company said, but declined to name specifically which vessels were being sold.
Star Bulk also declined to name the buyer, saying only that the vessels will be purchased by unaffiliated third parties.
Aggregate gross proceeds from the sale will be $122 million, Star Bulk said, adding that the vessels are expected to be delivered to the buyers during the first quarter of 2016.
The sale of "modern" tonnage appears to come in contrast to Star Bulk's recent trend toward selling older vessels from its fleet.
In September 2015, Ship & Bunker reported that Star Bulk saw a net loss of $105.2 million during the first six months of 2015.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 565.50 | 6.00 | 661.50 | 4.00 |
| Rotterdam | 510.00 | 2.00 | 661.00 | 2.00 |
| Houston | 548.00 | 2.50 | 666.50 | 0.50 |
| Fujairah | 555.50 | 5.00 | 746.00 | 2.50 |
| Global 20 Ports Average | 582.50 | 1.50 | 753.00 | 1.50 |
| Global 4 Ports Average | 544.50 | 3.00 | 683.50 | 1.00 |
| Global Average Bunker Price | 631.00 | 2.50 | 803.50 | 2.00 |
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