Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Star Bulk Carriers Corp. Announces That It Has Become a Signatory of the “Neptune Declaration .
Star Bulk Carriers Corp.January 28, 2021 GMT
ATHENS, Greece, Jan. 28, 2021 (GLOBE NEWSWIRE) Star Bulk Carriers Corp. (the “Company” or “Star Bulk”) (Nasdaq: SBLK), a global shipping company focusing on the transportation of dry bulk cargoes, announced today that it has become a signatory of the “Neptune Declaration on Seafarer Wellbeing and Crew Change”, a worldwide call to action to end the unprecedented crew change crisis caused by the Covid-19 pandemic.
Provided by Dow Jones
By Costas Paris The global shipping industry is hoping that President Biden s America is back declaration means the U.S. is returning to free-trade principles, and away from Trump administration protectionist policies that often dragged ocean vessels into efforts to enforce sanctions. The long-running trade dispute with China and sanctions on big oil producers like Iran and Venezuela have left shipping companies navigating a complicated and fast-changing web of financial and operating restrictions. This has left dozens of fully loaded ships idled for extended periods and their owners forced to scrap delivery contracts and pay high legal fees to avoid U.S. punitive actions.
Star Bulk Carriers Corp. Announces Delivery of Three Capesize Vessels
Star Bulk Carriers Corp. a global shipping company focusing on the transportation of dry bulk cargoes announced today that it has taken delivery of the three capesize vessels E.R. BAYONNE, E.R. BUENOS AIRES and E.R. BORNEO (the “Vessels”) from entities affiliated with E.R. Capital Holding GmbH & Cie. KG (“E.R.” or “Sellers”), pursuant to the transaction previously disclosed on December 17, 2020. The Cash Consideration of the transaction was financed through proceeds of a new five-year term loan from a leading European financial institution.
Following these deliveries, the Company has 99,239,716 common shares issued and outstanding.
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Leading Dry Bulk and Container Shipping Companies To Present in Capital Link’s Shipping Webinar .
Capital LinkJanuary 15, 2021 GMT
Tuesday, January 19, 2021 at 8AM EST
&
Wednesday, February 3, 2021 at 8AM EST
NEW YORK, Jan. 15, 2021 (GLOBE NEWSWIRE) Capital Link will host two complimentary webinars focused on specific shipping sectors: one on dry bulk and the other on the container shipping sector.
Each webinar will discuss market trends, fundamentals, and the sector’s outlook.
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Martyn Wade, Chief Executive Officer – Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN)
Star Bulk Agrees to Acquire Τhree Dry Bulk Vessels From E.R. Capital Holding
Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargoes announced today that it has entered into a definitive agreement with entities affiliated with E.R. Capital Holding GmbH & Cie. KG (“E.R.” or “Sellers” ) pursuant to which the Company will acquire three (3) cape size dry bulk vessels , namely E.R. BAYONNE, E.R. BUENOS AIRES and E.R. BORNEO (the “Vessels”).
The Vessels are retrofitted with exhaust gas cleaning systems (Scrubbers). Consideration for the acquisition is payable in the form of $39.0 million in cash (“Cash Consideration”) and 2,100,000 common shares of Star Bulk (“Share Consideration”). The transaction was negotiated by the Company on the basis of NAV.