Star-Luna Vessel Reviews and Specifications

Star Bulk Carriers, listed in the US, has successfully completed the acquisition of Songa Bulk, a company featured on the Oslo stock exchange. This deal significantly enhances Star Bulk's operations, adding a fleet of 15 state-of-the-art bulk carriers, which includes three Capesize bulkers, ten Kamsarmax bulkers, one Ultramax bulker, and one Supramax bulker. The acquisition entails the issuance of 13.7 million new shares along with a cash payment of USD 145 million, financed through China Merchants Bank Leasing. Additionally, Star Bulk has announced plans to acquire three Newcastlemax bulkers currently under construction at Shanghai Waigaoqiao Shipbuilding (SWS). These vessels are expected to be delivered in the fourth quarter of 2018 and the first quarter of 2019, with funding support from CSSC Shipping Company amounting to USD 104.4 million, combined with the issuance of 3.39 million new shares. This strategic move is set to fortify Star Bulk's position in the competitive shipping market.