Major Greek dry bulk merger Star Bulk, backed by equity fund Oaktree, finished 2014 with an unsurprising deficit after a year that sent the entire industry tumbling. CEO Petros Pappas points to the worst market in 40 years.
BY OLE ANDERSEN
Oaktree-controlled dry bulk carrier Star Bulk left 2014 with a net deficit of USD 11.7 million for the full year, while the deficit in the final quarter came to USD 8.1 million.
The EU’s import ban on Russian oil will create ”imbalance” and ”spikes” in the bunker market, with disruptions seen lasting for ”at least the whole of 2023,” says Anders Grønborg, new chief exec of KPI Oceanconnect.