Star Bulk Finalizes Deal to Buy Supramax

Illustration; Image Courtesy: Star Bulk

Athens-based dry bulk shipping company Star Bulk Carriers has entered into a definitive agreement to acquire a Supramax dry bulk carrier from an unnamed party.

The vessel has a carrying capacity of 56,582 dwt and was built at China’s Jiangsu Hantong Shipyard in 2011.

Although Star Bulk did not disclose the name of the ship or the seller, the bulk carrier that fits the description could be Privaegean. Namely, Star Bulk has been linked to the purchase of this Supramax ship which was built at the abovementioned yard in 2011. Privaegean was bought from Greek Bariba Corp. for USD 10.75 million on June 12, according to data provided by VesselsValue.

As informed, the bulker is expected to be delivered to Star Bulk during July 2017.

Star Bulk said the acquisition will be partly financed through debt secured from a financial institution.

Currently, Star Bulk’s fleet includes 70 operating vessels, one vessel acquired and due for delivery and three newbuilding vessels under construction at shipyards in China.

Additionally, the company has one chartered‐in Supramax vessel, under a time charter expiring in September 2017.

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