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New York-listed Star Bulk Carriers divests ships

Dry bulk giant Star Bulk divests four major dry bulk vessels as part of the carrier's attempt to improve its cash resources in the historically weak dry bulk market.

Photo: Star Bulk
BY DANIEL LOGAN BERG-MUNCH
Published:

Star Bulk Carriers, which is among the largest listed dry bulk players and has major investor US equity fund Oaktree Capital as a primary stakeholder, is now divesting vessels from its fleet in the extremely weak dry bulk sector.

The carrier has signed deals to sell two of the large Capesize vessels as well as two Kamsarmax ships for a total of USD 122 million, the company announces Wednesday.

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