Star Bulk Sells Claim

Star Bulk Sells Claim
Star Borealis

Star Borealis LLC, a subsidiary of dry bulk cargo shipping company Star Bulk Carriers Corp., has sold the rights to the claim against Pan Ocean to an unnamed third party for a little over USD 8 million.

Following the settlement and adjudication of the claim for damages and due hire related to the repudiation of the long – term time charter of the M/V Star Borealis by Pan Ocean Co Ltd., previously filed with the Seoul Central District Court, Korea, Star Borealis negotiated, sold and assigned the rights to the adjudicated claim.

Star Bulk expects a gain of approximately USD 9.38 million in relation to the above sale, inclusive of the extinguishment of a USD 1.36 million liability related to the amount of fuel and lubricants remaining on board of the M/V Star Borealis at the time of the charter repudiation.

Press Release; October 07, 2014

Share this article

Follow World Maritime News

In Depth>


<< Jan 2020 >>
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

The 9th Annual Event Green Shiptech China Congress 2020

The 9th Annual Event- Green Shiptech China Congress 2020 will be held on next…

read more >

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >


Forum you will find out from the regulators, government bodies and major ports’ representatives what the near…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >