Shippingtelegraph: Star Bulk focused on ship sales bolstering cash reserves

by Shipping Telegraph

Greece headquartered and Nasdaq-listed Star Bulk has agreed to offload the vessels Star Nighthawk, Star Runner, Star Danai, Star Goal, Star Sandpiper and Star Owl, which are expected to be delivered to their new owners by the end of 2025, other than Star Owl, which was delivered to its new owners in July 2025.

Regarding the previously announced vessel sales, the vessels Puffin Bulker and Star Canary were delivered to their new owners during the second quarter of 2025, while the vessel Star Petrel was delivered to its new owners in July 2025.

In addition, the shipowner agreed in May to sell the vessels Oriole and Star Georgia, which were delivered to their new owners in May 2025 and July 2025, respectively.

The major US-listed bulker owner continues to dispose vessels that no longer fit with the company’s “commercial profile.”

“We continue to refine our fleet by selling during Q2 2025 nine vessels that no longer fit with our commercial profile, thereby bolstering our cash reserves,” said chief executive officer of Star Bulk, Petros Pappas.

“Financially, we have continued to enhance our liquidity to over $520.0 million by signing two new revolving facilities totaling $115.0 million, improving our strategic flexibility for future opportunities.”

Star Bulk, which remains optimistic about the longer-term dry bulk market, is focused on ship sales as currently there are no signs that it will be active on the buying side.

“Despite near-term challenges due to geopolitical tensions, we remain optimistic about the dry bulk market longer-term, driven by the low order book and IMO regulatory tailwinds. We believe Star Bulk is well prepared, with a versatile fleet, strong balance sheet and proactive approach to take advantage of market opportunities,” the company’s chief added.