Star Bulk gets warning from Nasdaq in New York

The New York Stock Exchange has issued a notification to Star Bulk Carriers informing the company that a share in the dry bulk unit has for 30 days been so low that it fails to meet the exchange's requirements. But the carrier has some time to spare.

BY KATRINE GRØNVALD RAUN

Greek-based Star Bulk Carriers, which is backed by private equity player Oaktree Capital, is hitting one problem after another. In the past week, the carrier was one of several carriers in the sector opting to divest Capesize newbuildings - four vessels for a total of USD 148 million. One day after the sale, the carrier received a letter from the Nasdaq exchange in New York on which Star Bulk is listed, informs the carrier in a statement.

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