Star Bulk Carriers Corp. Stock Price, News & Analysis

Star Bulk Carriers Corp. (Nasdaq: SBLK) will release its second quarter and half-year results on August 5, 2021, after market close. The management will discuss the financials in a conference call on August 6, 2021, at 11:00 a.m. ET. Participants can join via specific dial-in numbers and a telephonic replay will be available until August 13, 2021. Star Bulk operates a fleet of 128 vessels with a total capacity of 14.1 million dwt, providing dry bulk shipping solutions globally.

Star Bulk Carriers Corp. (SBLK) announced two separate sales agreements with Deutsche Bank and Jefferies for the offer and sale of up to $150 million in common shares.

The shares may be sold at any time as part of an at-the-market offering. The proceeds will be allocated for various purposes, including capital expenditures, working capital, and debt repayment. The Company has no immediate plans to commence sales under these agreements.

Star Bulk Carriers Corp. (Nasdaq: SBLK) announced it will redeem all of its outstanding 8.30% Senior Unsecured Notes due 2022, totaling $50 million, on July 30, 2021. The redemption will be funded by proceeds from refinancing existing senior secured facilities amounting to approximately $400 million at a reduced average margin of 2.1%, compared to 2.9% for previous facilities. This move is part of Star Bulk's broader strategy to optimize its capital structure and reduce financing costs.

Star Bulk Carriers Corp. (SBLK) announced a secondary public offering of 2,382,775 common shares at $22.00 each, managed by Morgan Stanley. The offering, closing on June 24, 2021, is solely by OCM XL Holdings and will not yield any proceeds for the company. Post-offering, Oaktree Capital Management will hold approximately 25.42% of shares. This release does not constitute an offer to sell or solicit purchases of the securities mentioned, and a registration statement has been filed with the SEC.

Star Bulk Carriers Corp. (SBLK) corrected its previous press release regarding a secondary public offering of 2,382,775 common shares by Oaktree Capital Management. The beneficial ownership percentage was amended from 30.66% to 27.75%. This adjustment does not constitute an offer to sell or solicit offers to buy the securities. A shelf registration statement related to the offering has been filed with the U.S. Securities and Exchange Commission.

Star Bulk Carriers Corp. (Nasdaq: SBLK) announced a secondary public offering of 2,382,775 common shares by funds linked to Oaktree Capital Management. Oaktree affiliates own approximately 30.66% of the company's shares before this offering. Importantly, Star Bulk will not receive any proceeds from this sale. Morgan Stanley serves as the book-running manager for the offering. The company emphasized that this announcement does not comprise an offer to sell or solicit offers to buy securities, and the offering is conducted under an effective registration statement with the SEC.

Star Bulk Carriers Corp. (SBLK) announced a cash dividend of $0.30 per share, payable on or about June 14, 2021, to shareholders on record as of May 31, 2021. The ex-dividend date is set for May 27, 2021. Star Bulk is a global shipping company with a fleet of 128 vessels and a carrying capacity of 14.1 million dwt. The company specializes in transporting major and minor bulk commodities worldwide.

Star Bulk Carriers Corp. (SBLK) has reported robust first-quarter 2021 results, with a net income of $35.8 million, translating to $0.36 earnings per share, significantly up from $2.8 million in Q1 2020. Voyage revenues rose to $200.5 million from $160.9 million, driven by increased TCE Revenues of $156.4 million. The Board declared a quarterly cash dividend of $0.30 per share, payable on June 14, 2021. Star Bulk continues to expand its fleet, acquiring twelve vessels, and expects favorable long-term dynamics due to low orderbooks and rising demand from economic recovery.

On May 13, 2021, Star Bulk Carriers Corp. (SBLK) held its Annual Meeting of Shareholders in Cyprus, where two key proposals were approved: re-election of Koert Erhardt and Brian Laibow, alongside the election of Sherman Lau as Class B directors, and appointing DELOITTE CERTIFIED PUBLIC ACCOUNTANTS S.A. as independent auditors for 2021. Star Bulk operates a fleet of 128 vessels, with a total capacity of 14.1 million dwt, specializing in transporting major and minor bulk commodities globally.