Star Bulk Announces the Sale of M/V Star Julia for Demolition
Athens - This transaction is in line with the Company’s strategy to opportunistically divest assets that do not fit the profile of its fleet and further solidify its balance sheet.
Athens - Star Bulk Carriers Corp. a global shipping company providing transportation solutions in the dry bulk sector, announced that it has entered into a binding agreement to sell for demolition the M/V Star Julia (ex “Powerful”, the “Vessel”), a 70,100 dwt Panamax vessel, built in 1994, to an unaffiliated third party (the “Buyers”), at a profit over net book value.
The Company expects to deliver the Vessel to the Buyers by early February 2015. Star Julia was acquired from Excel Maritime Carriers Ltd (” Excel “) under an “en bloc” transaction of 34 vessels on August 19, 2014. This transaction is in line with the Company’s strategy to opportunistically divest assets that do not fit the profile of its fleet and further solidify its balance sheet.
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