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.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
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

Price of Maersk's new methanol ships drops

Maersk has just ordered six new methanol-powered container ships and now reveals that the added cost of building green ships compared to conventional ones is decreasing. Economies of scale, says equity analyst.

Esvagt pursues Taiwanese offshore wind

The Danish offshore service operator has located a possible partner on the island as a part of high hopes for the local offshore wind market. If successful, Esvagt could be ready to service wind at sea in the far east in a few years.

Further reading

Related articles

Latest news

See all jobs