Star Bulk Scores Charters for 3 Newbuildings

Athens-based owner and operator of dry bulk carriers Star Bulk Carriers has found voyage employment for three of its Newcastlemax bulk carriers, currently under construction in China, with an unnamed mining company.

HN 1359, HN NE 166 (to be named Gargantua) and HN NE 184 (to be named Maharaj) will be employed for 45 consecutive round-trip voyages from Australia to China over a period of approximately five years, assuming normal travelling conditions and port waiting times.

Under the terms of the agreements, the gross freight rate to be earned by each of the vessels, on a USD/ton basis, will be linked to the Baltic Index C5 route, as published by the Baltic Exchange, less voyage expenses.

Based on the current delivery schedule of the vessels, the first delivery to the charterer is expected to take place in the 2nd quarter of 2015.