Star Bulk announces a seven vessel transaction with Scorpio Bulkers
Star Bulk Carriers Corp. a global shipping company focusing on the transportation of dry bulk cargoes, has entered into an agreement with SCORPIO BULKERS INC. to acquire seven vessels, by assuming the outstanding lease obligations of the vessels which are currently at $102.3 million, the company said in its release.
As consideration, the сompany will issue to Scorpio three million newly issued SBLK shares. The transaction is subject to the approval of the lessor and customary documentation.The transaction was negotiated by the Company on the basis of NAV to NAV.
The Vessels are expected to be delivered to the сompany within the first and early second quarter of this year.
About Star Bulk
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, mineralsand grain, and minor bulks, which include bauxite, fertilizers and steel products. Star Bulk was incorporated in the Marshall Islands on December 13, 2006 and maintains executive offices in Athens, Oslo, New York, Limassoland Singapore. Star Bulkwill operate on a fully delivered basisa fleet of 126vessels, with an aggregate capacity of 13.9million dwt, consisting of 17 Newcastlemax, 22Capesize, 2 Mini Capesize, 7 Post Panamax, 39Kamsarmax, 2 Panamax, 20Ultramax and 17 Supramax vessels with carrying capacities between 52,425 dwt and 209,537 dwt.
