Star Bulk reports deficit after major impairment

Dry bulk major Star Bulk Carriers reports a large deficit for the second quarter. An impairment on the fleet in particular contributed to the negative result.

Photo: PR-FOTO

Greek dry bulk ship operator Star Bulk Carriers booked a fleet impairment of USD 30 million in the second quarter, and this contributed significantly to the shipping company finishing the quarter with a deficit of USD 40.2 million.

The large deficit comes after a quarter which, according to Star Bulk Carriers CEO Petros Pappas, experienced "significant dry bulk market weakness."

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