Independent journal on economy and transport policy
11:10 GMT+1
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The Greek Star Bulk has bought all the 15 to rinfusiere of the Songa Norwegian Bulk
Acquired also three new ships under construction near Shanghai Waigaoqiao Shipbuilding
May 15, 2018
The shipowning society Star Bulk Carriers Corp. of Athens a binding agreement has signed in order to buy the entire fleet of 15 ships to rinfusiere of the Songa Norwegian Bulk that is constituted by ten Karmsarmax units, three units Capesize, a Ultramax and a Supramax. The transaction previews that satisfied Stars Bulk 144,55 million dollars and confers 16,7 million own actions to the shareholders of the Songa Bulk. As a result of the operation the shareholders of the Songa will stop 14.9% about of the capital of the Star Bulk.
With the fusion with the Songa the consistency of the fleet of the Greek company will go up to 108 ships of the medium age 7,1-year-old for a total cargo ability pairs to about 12,26 million gross total, capacities in tons that include three portarinfuse Newcastlemax that Star Bulk has acquired through an agreement with the Oceanbulk Carriers Container, branch of Oaktree Capital Management and with relatives of Petros Pappas, managing director of the same Star Bulk. These last three ships, that actions of the Star will be bought in exchange for 3,39 million Bulk, are under construction near the Chinese ship yard Shanghai Waigaoqiao Shipbuilding Co. (SWS) and will be completed in the first trimester of 2019.
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The shipowning society Star Bulk Carriers Corp. of Athens a binding agreement has signed in order to buy the entire fleet of 15 ships to rinfusiere of the Songa Norwegian Bulk that is constituted by ten Karmsarmax units, three units Capesize, a Ultramax and a Supramax. The transaction previews that satisfied Stars Bulk 144,55 million dollars and confers 16,7 million own actions to the shareholders of the Songa Bulk. As a result of the operation the shareholders of the Songa will stop 14.9% about of the capital of the Star Bulk.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
