Deutsche Bank downgrades Star Bulk again
With a major newbuilding program and an already significant fleet on the water, listed Star Bulk is highly exposed to the weak dry bulk market, and like Scorpio Bulkers the carrier will need fresh capital, according to Deutsche Bank.
BY OLE ANDERSEN
US-based dry bulk giant Star Bulk will take delivery of 34 newbuildings over the next two years while already possessing a significant active fleet - and the New York-listed carrier is now being further downgraded, to just USD 2 per share, by Deutsche Bank, which also changes its recommendation from 'hold' to 'sell'.
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