Star Bulk cancels newbuildings after huge deficit

Following a deficit of almost half a billion dollars in 2015, dry bulk carrier Star Bulk takes solace in being able to get out of newbuilding contracts and postpones deliveries.

BY JOHANNES HARTKOPF-MIKKELSEN

2015 - which according to the CEO of dry bulk carrier Star Bulk, Petros Pappas, was the worst in 30 years - resulted in a deficit of no less than USD 458 million for the carrier.

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