Star Bulk Carriers is to buy fuel-efficient dry and wet bulk newbuildings with around $75m amount of funds raised by capital increase, backed by Oaktree and Monarch Capital.
Spyros Capralos, CEO of Star Bulk, said the pocketed cash is likely to be used to buy newbuilding eco-design capesize and supramax bulk carriers, with delivery due in 2015.
He said, “The number of vessels will depend according to what we find in the market and of course it has to do with the pricing of those vessels so we'll be negotiating hard with the yards to get the best possible deal.”
According to other sources, Star Bulk was expected to place orders for two bulkers and a pair of products tankers by August of this year, which are to be delivered in 2015.