STAR BULK ANNOUNCES SALE OF CAPESIZE M/V STAR TRIUMPH VESSEL AND REPURCHASE OF COMMON SHARES

Nasdaq listed, Marshal Island based, Star Bulk Carriers Corp, a shipping company with interests in dry bulk cargo sector, today announced the sale of Capesize m/v Star Triumph, a 2004 built and one of the oldest vessels in its fleet at a gross price of $20 Million. The net proceeds after repayment of the associated debts of $13 Million takes the net profit of the company to $7.7 million in the third quarter of 2024.

After the delivery of the vessel to its new owner, the company will have ownership of 153 vessels with an aggregate capacity of 15 million dwt spread across Newcastlemax, Capesize, Post Panamax, Kamsarmax, Panamax, Ultramax and Supramax vessel categories with carrying capacities varying between 53,489 dwt and 209,537 dwt.

Last week the company proceeded with the purchase of previously announced ‘Share Repurchase’ program of 791,015 common shares in open market transactions at an average price of $20.58 per share for a total consideration of $16.3 Million. These ‘Repurchased Shares’ will be withdrawn and cancelled.

Star Bulk Carriers Corp, also known as Star Bulk is a global shipping company providing worldwide seaborne transportation solutions in iron ore, minerals and grain, and minor bulks, which include bauxite, fertilizers and steel products. Besides Athens, Greece, Star Bulk has presence in New York, Limassol, Singapore, Germany and Denmark.