Star Bulk & E.R. Capital Holding Mutually Waive Excercise of Vessel Options

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(Image Courtesy: Star Bulk)

Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargoes announced on Tuesday that the Company and entities affiliated with E.R. Capital Holding GmbH & Cie. KG, mutually waived their respective Call and Put Options relating to the four optional operating dry bulk vessels, as previously disclosed in the press release issued on August 29, 2018.

Pursuant to the above developments, the Company has zero remaining equity capital expenditure due either for vessel acquisitions or for the Company’s scrubber program.

Star Bulk is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk’s vessels transport major bulks, which include iron ore, coal and grain, and minor bulks, which include bauxite, fertilizers and steel products.

On a fully delivered basis, Star Bulk will have a fleet of 109 vessels, with an aggregate capacity of 12.45 million dwt, consisting of 17 Newcastlemax, 19 Capesize, 2 Mini Capesize, 7 Post Panamax, 35 Kamsarmax, 2 Panamax, 17 Ultramax and 10 Supramax vessels with carrying capacities between 52,055 dwt and 209,537 dwt.

Sea News, April 4

Baibhav Mishra
Author: Baibhav Mishra

Associate Editor, Sea News