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Latest acquisition increases Star Bulk fleet to 108 bulkers

By L. Karageorgos 
[email protected]

Star Bulk Carriers has proceeded with another major acquisition over the recent period, with the NYSE-listed but Athens-based shipping company announced the addition of another 15 bulkers belonging to Songa Bulk ASA.

The development comes after the company absorbed 16 vessels controlled by Augustea Atlantica SpA.

Star Bulk Carriers, led by shipping executive Petros Pappas, also announced the purchase of three under-construction bulkers ordered by Oceanbulk Container Carriers LLC.

Overall, if the new additions are included, the company now owns and controls 108 bulkers.  

The acquired Songa Bulk flotilla is broken down into three capesizes, 10 kamsarmaxes, an ultramax and a supramax. The transaction involved 13.725 million Star Bulk shares and 145 million USD in cash.