Independent journal on economy and transport policy
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Fusion of the companies Star Bulk and Oceanbulk
Metteranno in field a fleet of 69 ships portarinfuse for a total ability to 8,7 million gross capacities in tons
June 17, 2014
the Greek Star Carriers Bulk will buy the fleet of 15 ships portarinfuse of the Oceanbulk becoming the first company in the segment of dry the bulk carrier quoted on the market Nasdaq American. Star Bulk in fact has signed a definitive agreement with affiliated of the American Oaktreee Capital Management, with not executive president of the same Star Bulk, Petros Pappas, and with some its relatives based on which the Oceanbulk Shipping and the Oceanbulk Carriers let alone entities controlled from the Pappas family will integrally become society controlled by the Star Bulk, while 54,1 million actions of new issue of Star Bulk (titles that on the base of the value of friday closing have a total value of 653 million dollars) will be assigned to Oaktree and to the Pappas family. To completion of the transaction to the Oaktree 61.3% of the capital stock of Star will go Bulk and to the Pappas family 12.5%.
the 15 to rinfusiere of Oceanbulk, of which five Capesize, two post-Panamax, six Kamsarmax and two Supramax, have a medium age 5,6-year-old and a total ability pairs to 1,75 million gross capacities in tons. Moreover the transaction includes contracts for the construction of 26 new portarinfuse, of which eight Newcastlemax, eight Capesize and ten Ultramax that will be taken in delivery between 2014 and 2016. Currently the fleet of Star Bulk is constituted by 17 to rinfusiere of medium age 9,0-year-old and the ability total of 1,6 million gross capacities in tons; moreover the company manages others on behalf of a third party 14 to rinfusiere of the ability almost 1,6 million tpl and has in course orders for the construction of 11 new portarinfuse of the ability to beyond 1,6 million tpl in delivery in 2015-2016. To completion of the transaction and the acquisition of the new ships the fleet of Star Bulk will be formed by 69 ships for a total ability to 8,7 million gross capacities in tons.
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the Greek Star Carriers Bulk will buy the fleet of 15 ships portarinfuse of the Oceanbulk becoming the first company in the segment of dry the bulk carrier quoted on the market Nasdaq American. Star Bulk in fact has signed a definitive agreement with affiliated of the American Oaktreee Capital Management, with not executive president of the same Star Bulk, Petros Pappas, and with some its relatives based on which the Oceanbulk Shipping and the Oceanbulk Carriers let alone entities controlled from the Pappas family will integrally become society controlled by the Star Bulk, while 54,1 million actions of new issue of Star Bulk (titles that on the base of the value of friday closing have a total value of 653 million dollars) will be assigned to Oaktree and to the Pappas family. To completion of the transaction to the Oaktree 61.3% of the capital stock of Star will go Bulk and to the Pappas family 12.5%.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
