Boston, MA 09/23/2014 (wallstreetpr) – Star Bulk Carriers Corp. (NASDAQ:SBLK) updated the fleet size and delivery status of its vessels. The Company announced the delivery of 182,000 dwt Capesize vessels of M/V Leviathan on September 19, 2014.
The delivery is one of the six similar vessels, which ordered by Japan Marine United (JMU), and the second delivery is likely to happen by 3rd quarter of 2015. In addition to the delivery of M/V Levathian vessels, the Company will deliver the two Kamsarmax vessels from Heron Ventures Ltd.
A transporter of dry bulk cargos
Star Bulk Carriers Corp. (NASDAQ:SBLK) is delivering JMU’s Capesize vessels that comprises of modern specifications such as fuel efficient and carbon emission vessels.
Star Bulk partially financed the final delivery installment of the vessels. It includes $34.63 million of investment, which includes $32.5 million of net proceeds from its five years secured credit facility from Deutsche Bank AG and available cash in hand.
The vessels also include the equipments as per its higher specifications that cost ~$0.54 million, which already included in the aforementioned final delivery charges.
Fleet size
As of now, Star Bulk owned 42 dry bulk vessels on the water with an average age of ~ 8.1 years that includes 12 Capesize, seven Kamsarmax, four Post‐Panamax, five Panamax, ten Supramax and two Ultramax.
Moreover, Star Bulk Carriers Corp. (NASDAQ:SBLK) already signed a definitive contract to acquire 34 second-hand vessels from Excel Maritime Carriers Ltd. Of which, eight vessels already delivered and 26 vessels are yet to deliver.
The transporter also involves in the construction of 35 modern specifications (fuel-efficient) vessels including 13 Newcastlemax, 14 Ultramax and eight Capesize at the new shipyards of China and Japan. The Company anticipates the delivery the vessels in 2014, 2015 and early 2016.
Overall, Star Bulk Carriers Corp. (NASDAQ:SBLK) has total fleet size of 103 vessels, which has an aggregate capacity of 11.9 million dwt and mostly comprises of Capesize, Kamsarmax and Panamax.
