20/03/2015at 10:23

Dry bulk merger: Worst market in 40 years

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.

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