Star Bulk Carriers Corp. Stock Price, News & Analysis

Star Bulk Carriers Corp. (Nasdaq: SBLK) has announced a definitive agreement to acquire two ECO type resale Kamsarmax vessels, with expected delivery in June and September 2021. The acquisition, sourced from YAMIC yard, is part of the company's fleet renewal strategy, aiming to enhance performance amid evolving carbon emission regulations. The financing is being secured from leading financial institutions. CEO Petros Pappas emphasized the deal's attractive pricing and the robust fundamentals of the dry bulk sector, highlighting its potential to add shareholder value.

Star Bulk Carriers Corp. (Nasdaq: SBLK) reported its fourth quarter and full-year results for 2020, showing a net income of $27.8 million for Q4, compared to $23.5 million in 2019. For the year, net income reached $9.7 million, marking a rebound from a loss of $16.2 million in 2019. Voyage revenues decreased to $186 million in Q4 from $248.6 million, while Adjusted EBITDA for Q4 was $81.5 million. The company reduced net debt by $149 million and maintained a strong liquidity position, raising over $500 million in debt financing during 2020.

Star Bulk Carriers Corp. (SBLK) will announce its Q4 and full-year 2020 financial results on February 17, 2021, after the U.S. market closes. A conference call is scheduled for February 18, 2021, at 11:00 a.m. ET, where management will discuss the results. Interested parties can join via phone or through a live audio webcast on Star Bulk's website. Star Bulk, incorporated in the Marshall Islands, manages a fleet of 126 vessels, transporting various bulk commodities. This upcoming announcement is expected to provide insights into the company’s financial performance amidst current market conditions.

Star Bulk Carriers Corp. (SBLK), a global shipping company, has signed the Neptune Declaration on Seafarer Wellbeing to address the crew change crisis exacerbated by the Covid-19 pandemic. The declaration, endorsed by over 300 maritime organizations, outlines four key actions: recognizing seafarers as key workers for vaccine priority, establishing health protocols, fostering collaboration for crew changes, and ensuring air connectivity for seafarers. CEO Petros Pappas emphasized the company's commitment to the rights and well-being of seafarers.

Star Bulk Carriers Corp. has announced the delivery of three capesize vessels: E.R. BAYONNE, E.R. BUENOS AIRES, and E.R. BORNEO. These vessels were acquired from E.R. Capital Holding GmbH & Cie. KG, with the cash consideration financed through a new five-year term loan from a major European financial institution. After this transaction, Star Bulk's total outstanding common shares stand at 99,239,716. The company operates a fleet of 119 vessels, showcasing its dominant position in the dry bulk shipping market.

Star Bulk Carriers Corp. (Nasdaq: SBLK) announced a definitive agreement to acquire three capesize dry bulk vessels for $39 million in cash and 2.1 million shares. The vessels, E.R. Bayonne, E.R. Borneo, and E.R. Buenos Aires, are equipped with scrubbers and will be delivered by early February 2021, pending customary conditions. The transaction enhances Star Bulk's fleet, which consists of 119 vessels with a total capacity of 13.4 million dwt. Financing for the cash portion of the deal is being discussed with a financial institution.

Star Bulk Carriers Corp. (SBLK) reported its financial results for Q3 and nine months ending September 30, 2020. The company achieved a net income of $23.3 million, compared to $5.8 million in Q3 2019, and an adjusted net income of $27.3 million. Voyage revenues decreased to $200.2 million from $248.4 million year-over-year, while Adjusted EBITDA rose to $79.7 million from $72.2 million. The daily TCE rate improved to $13,083 but faced challenges due to COVID-19 restrictions. Current liquidity stands at $225 million after refinancings contributing $113.2 million.

Star Bulk Carriers Corp. (SBLK) will announce its financial results for Q3 and the nine months ending September 30, 2020, after markets close on November 16, 2020. Management will discuss these results in a conference call on November 17, 2020, at 11:00 a.m. ET. Participants can join by dialing specific numbers provided for US, UK, and international callers. The call will also be available via live webcast on the Star Bulk website. The company operates a fleet of 116 vessels, emphasizing its role in the global dry bulk shipping sector.