Crew Reviews, Ratings & Info for Star-Bianca

In a significant move to enhance its fleet, US-listed Star Bulk Carriers has successfully acquired Oslo-listed Songa Bulk. This transaction integrates 15 modern bulk carriers into Star Bulk's operations, comprising three Capesize bulkers, ten Kamsarmax bulkers, one Ultramax bulker, and one Supramax bulker. The acquisition is valued at USD 145 million, with Star Bulk committing to issue 13.7 million new shares as part of the deal. To support the cash component of this transaction, financing will be provided by China Merchants Bank Leasing. In addition to the Songa Bulk acquisition, Star Bulk is poised to broaden its portfolio further by acquiring three Newcastlemax bulkers currently under construction at Shanghai Waigaoqiao Shipbuilding (SWS). These vessels are expected to be delivered in the last quarter of 2018 and the first quarter of 2019, arising from a deal with OceanBulk Container Carriers. For this part of the transaction, Star Bulk will issue an additional 3.39 million new shares, and CSSC Shipping Company is set to finance USD 104.4 million to facilitate the purchase of these three cutting-edge bulkers. This strategic expansion underscores Star Bulk's commitment to growing its presence in the bulk shipping market.