Greek dry bulk heavyweight Star Bulk Carriers has offloaded more vessels, continuing its steady push to trim older tonnage from its fleet.
The Nasdaq-listed Athens-based company confirmed in its second-quarter earnings report it had agreed to sell a mix of supramaxes and one kamsarmax bulk carrier.
The vessels include Star Nighthawk, Star Runner, Star Danai, Star Goal, Star Sandpiper, Star Owl, Oriole, and Star Georgia—the latter being the only kamsarmax in the group and built in 2006. Most of the supramax units were built in 2011.
The Star Owl, Oriole, and Star Georgia have already been delivered to new owners. The remaining ships are expected to change hands by the end of 2025.
Star Bulk said it expects to generate around $104m in gross proceeds from the sales during the third and fourth quarters.
“We continue to refine our fleet by selling vessels that no longer fit with our commercial profile, thereby bolstering our cash reserves,” noted Star Bulk chief executive Petros Pappas.
The company, which controls over 140 bulkers with an aggregate capacity of 14.2m dwt, has sold more than 10 supramaxes so far in 2025, with a focus on repositioning its fleet profile and increasing financial flexibility to over $520m for future opportunities.
