Discover the Star-Astrid: Ratings & Maritime News

In a significant move to bolster its maritime operations, US-listed shipowner Star Bulk Carriers has successfully acquired Oslo-listed Songa Bulk. The acquisition adds an impressive fleet of 15 modern bulk carriers to Star Bulk’s operations, including 3 Capesize bulkers, 10 Kamsarmax bulkers, 1 Ultramax bulker, and 1 Supramax bulker. As part of this deal, Star Bulk will issue 13.7 million new shares alongside a cash payment of USD 145 million for the Songa fleet, with China Merchants Bank Leasing stepping in to finance the cash transaction. Furthermore, Star Bulk has also committed to acquiring 3 Newcastlemax bulkers currently under construction at Shanghai Waigaoqiao Shipbuilding (SWS). These additional vessels are expected to be delivered in the fourth quarter of 2018 and the first quarter of 2019, sourced from OceanBulk Container Carriers. To facilitate this acquisition, Star Bulk will issue 3.39 million new shares, while CSSC Shipping Company is set to finance the purchase with USD 104.4 million.

In a recent development, Pacific Basin has successfully taken delivery of a new time charter in Dalian. The vessel is set to embark on a journey across the North Pacific, with plans for redelivery in the Singapore-Japan range. This new charter agreement comes with a daily rate of $11,000, showcasing Pacific Basin’s continued growth and strategic operations in the maritime sector.