Discover the Star-Claudine: Ratings & Maritime News

Star Bulk Carriers, a prominent shipowner listed in the US, has made a significant move in the shipping industry by acquiring Songa Bulk, which is recognized in Oslo. The acquisition includes a fleet of 15 state-of-the-art bulk carriers, featuring 3 Capesize bulkers, 10 Kamsarmax bulkers, 1 Ultramax bulker, and 1 Supramax bulker. In a strategic financial maneuver, Star Bulk will issue 13.7 million new shares and make a cash payment of USD 145 million to secure this fleet. This cash portion of the transaction will be financed by China Merchants Bank Leasing. Additionally, in another notable expansion effort, Star Bulk has agreed to acquire three Newcastlemax bulkers currently under construction at Shanghai Waigaoqiao Shipbuilding (SWS), with planned deliveries set for the fourth quarter of 2018 and the first quarter of 2019 from OceanBulk Container Carriers. For this deal, Star Bulk will issue 3.39 million new shares, with CSSC Shipping Company providing USD 104.4 million to facilitate the purchase of these three bulkers. This acquisition positions Star Bulk for further growth and consolidation within the maritime sector.

In a recent development, a charter agreement has been finalized to transport 150,000 tons of ore from Port Cartier to Fos. The deal features a freight rate of $7.90 per ton, with 60,000 tons loaded under shinc (ship and charterer) terms and 30,000 tons to be discharged under the same conditions. This charter will take place between November 16 and November 25, facilitated by ArcelorMittal, under a relet arrangement from EdF.