Star Bulk Carriers is on a positive course, continuing to record profitable quarters, while it has returned 2.8 billion dollars to shareholders since 2021.
Over the same period, it has reduced its borrowing by more than 50% and the scrap value of its fleet, 872 million dollars, is higher than its total credits, amounting to 615 million dollars.
“We remain committed to returning value to shareholders,” said Petros Pappas, CEO of the company, which is one of the largest publicly traded bulk carriers in management.
“We announced a dividend of 0.11 dollar per share – our 19th consecutive distribution -bringing total dividends to 13.12 per share since 2021.”
“We continue to implement our share buyback program,” Pappas emphasized.
However, the messages for the bulk carrier market are also positive, since according to Pappas’ analysis:
“The dry bulk market has been affected by geopolitical tensions, including the US-China port dues measures and the postponement of the decision on the IMO Net-Zero Framework.
Despite the short-term uncertainties, we believe that medium-term fundamentals remain strong.
Renewal needs are increasing due to the rapid aging of the global fleet, while future capacity growth will remain limited.
Well-capitalized owners, like Star Bulk, are ideally positioned to capitalize on opportunities and create long-term value for shareholders.”
Investments
According to the company’s presentation to the institutions, regarding investments, it made the following moves:
In October, the company signed three novation and amendment agreements with Hengli Shipyards for three 82,000 dwt kamsarmaxes, with delivery in the third quarter of 2026.
Financing of up to 130 million dollars has been secured for five newbuildings, as well as an additional 74 million expected for the three Hengli vessels.
CAPEX for ship upgrades with an emphasis on sustainable shipping and compliance with emissions requirements.
Five more contracts are in progress with Qingdao Shipyard for kamsarmax with delivery in 2026.
Delivery of Star Nighthawk, Star Goal and Star Danai to new owners in Q3 2025.
Delivery of Star Runner and Star Sandpiper in October, with net proceeds of 25 million.
ESD (Efficiency of Propeller) installation program. 51 installations have been completed, with 9 remaining for 2025.
Telemetry program: Installation of digital telemetry equipment continues on most of the vessels acquired by Eagle Bulk in 2025.
Star Bulk has one of the largest dry bulk fleets among listed companies in the US and Europe, with 145 vessels fully delivered, with an average age of 11.9 years.
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