World News
Star Bulk Raises $80.1 Million for Fuel-Efficient Ships
Greek bulk carrier Star Bulk Carriers Corp. [NASDAQ:SBLK] (Star Bulk) says it has raised about $80.1 million, partly to help buy four fuel-efficient newbuildings.
"This is a milestone for Star Bulk that has allowed us to enter into newbuilding orders to expand our fleet with modern fuel efficient ships at very attractive prices," said President and CEO Spyros Capralos.
"The offering validates the confidence from our existing shareholders and new investors in the Company and our strategy."
The equity rights offering was backstopped by existing shareholders, company directors and executives, and other investors, including investment funds managed by Monarch Alternative Capital LP, BlueShore Global Equity Fund L.P., and Far View Partners L.P.
Star Bulk issued an aggregate of 15,338,861 common shares.
The company previously announced that the ships, two 180,000 dead weight tonne (dwt) Capesize drybulk vessels and two 60,000 dwt Ultramax drybulk vessels, would cost about $151 million.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 509.00 | 4.50 | 623.00 | 3.00 |
| Rotterdam | 463.00 | 7.00 | 623.50 | 2.00 |
| Houston | 471.50 | 4.50 | 627.50 | 3.50 |
| Fujairah | 501.00 | 4.50 | 714.00 | 1.00 |
| Global 20 Ports Average | 529.00 | 2.50 | 714.50 | 2.50 |
| Global 4 Ports Average | 486.00 | 3.00 | 647.00 | 2.50 |
| Global Average Bunker Price | 572.50 | 2.00 | 753.00 | 2.00 |
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