Star Bulk books a loss in Q3

Greek bulk carrier Star Bulk, backed by equity fund Oaktree, booked a net deficit of USD 39.1 million in the third quarter. This is attributed to low rates and losses on ship divestments, the company writes in a financial statement.

Low rates continue to deal destructive blows to dry bulk carriers which have been booking red bottom-lines throughout recent weeks.

Now, Greek carrier Star Bulk, under control of equity fund Oaktree Capital, joins the list of loss-making carriers with a double-digit million dollar deficit in Q3.

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