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Biggest US bulk carrier is a reality

Greece-based Star Bulk’s acquisition of Ocean Bulk is now a reality, giving way to the biggest dry bulk carrier in the US in spite of protests from a Taiwanese shareholder.

Athens-based dry bulk carrier Star Bulk has carried out its previously announced acquisition of the two companies Oceanbulk Shipping LLC and Oceanbulk Carriers LLC, the carrier has announced in a press release. According to Star Bulk, its shareholders are backing the proposed merger with the majority of them voting in favor of the transaction.

Star Bulk has thus acquired a fleet of 15 dry bulk vessels with an average age of 5.6 years and a capacity of approximately 1.75 million dwt. The fleet comprises five Capesizes, two post-Panamaxes, six Kamsarmaxes and two Supramaxes, as well as contracts for 26 fuel-efficient eco newbuilds – all vessel that are due to be delivered during 2014, 2015 and 2016.

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