ATHENS, Greece, March 3, 2021 (GLOBE NEWSWIRE) – Star Bulk Carriers Corp. (the “Firm” or “Star Bulk”) (Nasdaq: SBLK), a worldwide transport firm specializing within the transport of dry bulk cargoes, immediately introduced that it has entered right into a definitive settlement with a 3rd social gathering in below which the Firm will purchase two (2) ECO Kamsarmax resale vessels of 82k dwt. The vessels are anticipated to be delivered to the corporate in June and September 2021, respectively, instantly from the YAMIC yard (a three way partnership between Mitsui and New Yangzijiang). The Firm is in superior talks with main monetary establishments to finance the vast majority of the acquisition value on aggressive financing phrases.
Star Bulk CEO Petros Pappas commented:
“Given the altering regulatory surroundings for carbon emissions, we consider that the acquisition of those two resale vessels additional contributes to our fleet renewal efforts and initiatives. Their quick 3-6 month supply, mixed with a pretty buy value and powerful fundamentals of the Kamsarmax and dry bulk trade as a complete, guarantee this transaction provides worth to the Firm and our shareholders.
About Star Bulk
Star Bulk is a worldwide transport firm offering transport options world wide within the dry bulk trade. Star Bulk’s ships carry giant bulk, which incorporates iron ore, minerals, and grains, and minor bulk, which incorporates bauxite, fertilizers, and metal merchandise. Star Bulk was integrated within the Marshall Islands on December 13, 2006 and has government workplaces in Athens, Oslo, New York, Limassol and Singapore. Its frequent inventory trades on the Nasdaq International Choose Market below the image “SBLK”. Star Bulk will function on a totally delivered foundation a fleet of 128 vessels, with a complete capability of 14.1 million dwt, consisting of 17 Newcastlemax, 22 Capesize, 2 Mini Capesize, 7 Submit Panamax, 41 Kamsarmax, 2 Panamax, 20 Ultramax and 17 Supramax ships with a load capability of between 52,425 dwt and 209,537 dwt.
The issues mentioned on this press launch might represent forward-looking statements. The Non-public Securities Litigation Reform Act of 1995 offers protections for forward-looking statements to encourage corporations to offer forward-looking details about their actions. Ahead-looking statements embody statements about future plans, goals, targets, methods, occasions or efficiency, in addition to underlying assumptions and different statements, that are aside from statements of historic truth.
We want to reap the benefits of the protected harbor provisions of the Non-public Securities Litigation Reform Act 1995 and embody this caveat in reference to this “protected harbor” laws. The phrases “consider”, “anticipate”, “intends”, “estimate”, “foresee”, “plan”, “plan”, “potential”, “can”, “ought to”, “anticipate” , “Pending” and related expressions establish forward-looking statements.
The forward-looking statements contained on this press launch are primarily based on varied assumptions, lots of which, in flip, are primarily based on different assumptions, together with, with out limitation, our administration’s evaluation of working tendencies. historic information, information in our data and different accessible information. of third events. Though we consider these assumptions had been cheap after they had been made, as a result of these assumptions are inherently topic to important uncertainties and contingencies that are troublesome or unattainable to foretell and are past our management, we can not guarantee you. that we’ll obtain or obtain these expectations, beliefs or projections.
Along with these essential components, different essential components which, in our opinion, may trigger precise outcomes to vary materially from these mentioned within the forward-looking statements embody normal dry bulk transportation market circumstances, together with fluctuations in constitution charges and vessel values; the power of world economies; the steadiness of Europe and the euro; fluctuations in rates of interest and trade charges; modifications in demand within the dry bulk transportation trade, together with the marketplace for our vessels; modifications in our working bills, together with bunker costs, dry dock fees and insurance coverage; modifications in authorities guidelines and laws or actions taken by regulatory authorities; potential legal responsibility within the occasion of ongoing or future litigation; normal nationwide and worldwide political circumstances; potential disruption of transport routes attributable to accidents or political occasions; enterprise disruptions attributable to pure disasters or different disasters past our management, such because the current outbreak of COVID-19; the length and severity of the COVID-19 outbreak; the provision of vaccines towards the COVID-19 virus and their international deployment; the affect of public well being threats and outbreaks of different extremely communicable illnesses; the affect of the deliberate LIBOR abandonment after 2021 on the rates of interest on our benchmark LIBOR debt; the provision of financing and refinancing; our capability to satisfy further capital and financing necessities to develop our enterprise; the affect of our indebtedness and compliance with restrictive covenants included in our borrowing agreements; vessel breakdowns and non-hire circumstances; the publicity or potential lack of an funding in by-product devices; potential conflicts of curiosity involving our CEO, his household and different members of our senior administration and our capability to finish acquisitions as and when required. Please see our filings with the Securities and Trade Fee for a extra full dialogue of those and different dangers and uncertainties. The data contained herein is legitimate solely as of the date hereof, and the Firm disclaims any intention or obligation to replace any forward-looking statements because of developments occurring after the date of this communication.
Simos Spyrou, Christos Begleris
Co – Monetary Administrators
Star Bulk Carriers Corp.
c / o Star Bulk Administration Inc.
40 Ag. Konstantinou Av.
Electronic mail: [email protected]
Investor Relations / Monetary Media:
Capital Hyperlink, Inc.
230 Park Avenue, Suite 1536
New York, NY 10169
Cellphone. (212) 661-7566
Electronic mail: [email protected]