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Star Bulk updates position in miserable dry bulk market

In a new update, Star Bulk Carriers takes stock of the situation and lists a series of initiatives and savings aimed at helping the carrier through another tough dry bulk year. Not a lot has changed, notes Deutsche Bank.

Photo: Star Bulk

Dry bulk giant Star Bulk Carriers, which is headquartered in Greece and listed on New York's Nasdaq exchange, stands tall on the front line as one of the biggest players in the extremely low sector - both in terms of fleet size as well as the amount of beatings suffered in the past year.

The carrier faces numerous challenges: Slowing imports to China, enormous overcapacity in the market and a massive orderbook, all of which have helped make the carrier's share plummet over the past 12 months. Last week Star Bulk Carriers received a notice from Nasdaq informing the company that its share had traded at less than one dollar for 30 days, thus failing to comply with the exchange's regulations.

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