Star Bulk Adds Nine Bulkers to Capesize Chartering Pool

Star Bulk Greece-based dry bulk shipping company Star Bulk Carriers Corp. has entered into a Capesize Chartering Ltd (CCL) pooling agreement for nine of its Capesize dry bulkers. The deal was signed with three companies, namely, Bocimar International NV, Golden Ocean Group Limited and C Transport Holding Ltd. According to Star Bulk, the company agreed to market the nine bulkers which have previously been operating in the spot market as part of the CCL. Together with Star Bulk’s nine vessels, CCL consists of 65 Capesizes and will be managed in Singapore and in Antwerp. Star Bulk said it expects to achieve improved scheduling ability through the joint marketing opportunity that CCL represents for its Capesize vessels, with the overall aim of enhancing economic efficiencies. Due to a tough dry bulk shipping market, the company recently decided to sell its 181,433 dwt Capesize vessel MV Obelix for a price tag of USD 23.3 million in a fight to maintain a strong liquidity position. The sale of the 2011-built bulker follows Star Bulks agreement in January to dispose of four newbuilding Capesize vessels under construction in China, and another deal signed in December last year for the sale of two Capesizes and two Kamsarmax vessels.