World News
Star Bulk Sells Four Newbuilds
Star Bulk Carriers Corp. (Star Bulk) Monday announced that it has sold four of its newbuild vessels for a total price of $148 million.
The four newbuilding Capesize vessels, which are currently under construction in China, are said to have been sold to unnamed, but unaffiliated third parties.
Star Bulk says that, after the remaining delivery installments for the vessels are paid, the remainder of the proceeds from the sale will be used to pay for for general corporate purposes, including capital expenditures.
The vessels will be delivered to their buyers during 2016's first and second quarter.
In December, Star Bulk announced that it had entered into an agreement to sell four of its dry bulk vessels, including two modern Capesize vessels and two modern Kamsarmax vessels.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 548.00 | 0.50 | 677.50 | 2.00 |
| Rotterdam | 513.00 | 0.50 | 649.00 | 3.00 |
| Houston | 544.50 | 2.50 | 675.00 | 4.00 |
| Fujairah | 541.50 | 2.50 | 744.00 | 3.50 |
| Global 20 Ports Average | 572.00 | 2.50 | 758.00 | 2.50 |
| Global 4 Ports Average | 536.50 | 1.50 | 686.50 | 3.00 |
| Global Average Bunker Price | 624.00 | 2.50 | 801.00 | 3.50 |
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