Greece: Star Bulk Charters its Supramax Vessel Star Kappa

Star Bulk Carriers Corp.,a global shipping company focusing on the transportation of dry bulk cargoes, today announced that it has entered into a time charter contract with Pacific Basin Chartering Limited BVI for the Star Kappa for approximately one year, at a gross daily rate of $12,500.

The Star Kappa is a Supramax vessel of 52,055 dwt built in 2001. The new contract is expected to contribute a minimum of $4.2 million to a maximum of $5.1 million in gross revenue. The vessel is expected to be delivered to Pacific Basin once it finishes its scheduled drydock.

About Star Bulk

Star Bulk is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk’s vessels transport major bulks, which include iron ore, coal and grain and minor bulks such as bauxite, fertilizers and steel products. Star Bulk was incorporated in the Marshall Islands on December 13, 2006 and maintains executive offices in Athens, Greece. Its common stock trades on the Nasdaq Global Market under the symbol “SBLK”. Currently, Star Bulk has an operating fleet of fifteen dry bulk carriers, consisting of seven Capesize, and eight Supramax dry bulk vessels with a combined cargo carrying capacity of 1,625,943 deadweight tons. The average age of company’s current operating fleet is 10.5 years.

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World Maritime News Staff, November 17, 2011; Image: Star Bulk