Star Bulk’s Kamsarmax Newbuild Series Now Five

Greek dry bulk giant Star Bulk Carriers has disclosed further developments in its fleet renewal efforts, revealing additional kamsarmax newbuilds in China.

The company, listed on Nasdaq and operating a fleet of approximately 115 bulkers, has secured contracts for three 82,000 dwt vessels at Qingdao Shipyard, adding to the two units booked at the same yard in October of the previous year.

Scheduled for delivery in 2025, the first two newbuilds will be followed by the remaining trio, set for handover in April and July 2026.

In addition to these new orders, Star Bulk recently received delivery of one kamsarmax and an ultramax newbuild under seven-year charter-in agreements, marking the initial vessels in a series of six set to be delivered this year.

Continuing its strategy of fleet optimization, Star Bulk has divested older tonnage, with five ships sold in the past three months for a total of $112m. Four of these vessels are expected to be transferred to their new owners by April, including the recently reported sale of the 17-year-old capesize Big Bang.

Under the leadership of Petros Pappas, the company is poised to merge with US-based Eagle Bulk Shipping through an all-stock transaction, with Star Bulk emerging as the surviving entity. Upon completion, Star Bulk and Eagle Bulk shareholders are expected to hold approximately 71% and 29% of the combined company, respectively, pending a vote by Eagle Bulk shareholders scheduled for April 5th.