Star Bulk braces for a prolonged bulk downturn

Carrier Star Bulk came out of the second quarter with a smaller deficit on the bottom line, and the company has secured postponement of more than USD 200 in debt until 2018. The carrier is bracing itself for a prolonged downturn in bulk.

Photo: Star Bulk

New York-listed carrier Star Bulk continues to struggle with large deficits in the historically low bulk market.

In the first half of 2016, the carrier achieved a smaller revenue than in the first half of last year, logging USD 98.9 million against USD 105.1 million. However Star Bulk succeeded in reducing its losses slightly, down to USD 81.6 million against USD 105.1 million in the first half of 2015, according to Star Bulk's second quarter interim report

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