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Star Bulk's Q1 results indicate continued recovery in dry bulk

With an operating profit and net profit of USD 46.4 million and almost USD 10 million, respectively, in the first quarter, Greek-based Star Bulk seems to underline the emerging recovery in dry bulk.

Photo: Star Bulk Carriers

Expanding dry bulk shipping company Star Bulk Carriers, which after acquiring Norwegian Songa Bulk's 15 ships has now been listed in New York as well as Oslo, has published its results for the first quarter.

The interim report shows an adjusted operating profit (EBITDA) of USD 46.4 million for the first quarter, and a net profit of USD 9.9 million.

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