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Star Bulk acquires two additional kansarmax vessels

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Dry Bulk,

Star Bulk Carriers Corp. has announced that it has entered into definitive agreements to acquire two modern Kamsarmax drybulk carriers (the vessels) from an unaffiliated third party for an aggregate total consideration of approximately US$30.3 million.

Each of the vessels has a carrying capacity of 81 713 DWT and was built with high specifications at Jiangsu New Yangzijiang in 2013. The vessels are expected to be delivered to Star Bulk between March and May 2017. The company is currently in advanced discussions with a financial institution to secure financing for up to 50% of the acquisition costs of the Vessels. The company, additionally, today announced that it took delivery of the newcastlemax vessel Star Virgo (ex HN 1371), which is financed under a bareboat charter accounted for as a capital lease, from CSSC (Hong Kong) Shipping Company Limited.

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