Welcome to our dedicated page for Star Bulk Carriers news (Ticker: SBLK), a resource for investors and traders seeking the latest updates and insights on Star Bulk Carriers stock.
Star Bulk Carriers Corp. reports company developments tied to dry bulk shipping, fleet utilization and capital allocation. The company provides worldwide seaborne transportation for major bulks such as iron ore, minerals and grain, and minor bulks such as bauxite, fertilizers and steel products, using vessel classes that include Newcastlemax, Capesize, Post Panamax, Kamsarmax, Panamax, Ultramax and Supramax.
Recurring news themes include quarterly and annual operating results, time charter equivalent rates, vessel coverage, fleet composition, dividend declarations, share repurchase programs, annual report availability, shareholder voting matters and other capital-structure updates for the Nasdaq-listed common stock.
Star Bulk Carriers Corp. (SBLK) reported its Q1 2020 results, revealing voyage revenues of $160.9 million, down from $166.5 million in Q1 2019. The company achieved a net income of $2.8 million, reversing a net loss of $5.3 million a year earlier. EBITDA increased to $57.6 million, up from $46.4 million, while adjusted EBITDA fell to $32.6 million from $43.9 million year-over-year. The average Time Charter Equivalent (TCE) rate dropped to $10,949 per day, down from $11,192. The company opted not to declare a dividend for Q1 2020 to focus on liquidity amid COVID-19 impacts.
Star Bulk Carriers Corp. (Nasdaq: SBLK) held its Annual Meeting of Shareholders in Cyprus on May 12, 2020. Key proposals approved included the re-election of directors Mahesh Balakrishnan and Nikolaos Karellis, along with the election of Eleni Vrettou and Katherine Ralph as Class A directors. Notably, shareholders voted for the delisting of the Company’s common shares from the Oslo Børs. Additionally, Deloitte was appointed as the independent auditors for the fiscal year ending December 31, 2020. Nikolaos Karellis was elected as Chairman of the Audit Committee.