ShippingWatch

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.

Photo: Star Bulk

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.

For 30 trading days, Star Bulk Carriers has failed to meet the requirements for trading its shares, warns the exchange. In this period the share has traded at less than one dollar, and the company has thus failed to comply with the one dollar minimum trading price.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Maersk Tankers CEO sees no reason to merge tanker carriers

It has long been discussed, and the chief executive of a competitor points to Maersk Tankers as a driver in the tanker sector's consolidation race. However, Maersk Tankers CEO Christian M. Ingerslev does not see much sense in combining balance sheets, he tells ShippingWatch.

Further reading

Related articles

Latest news

See all jobs