Presentation

Star Bulk Carriers is the largest US-listed dry bulk shipping company. The company was founded in late 2006 and is headquartered in Athens, Greece. The largest shareholder is Oaktree Capital, now owning ~26% of the shares outstanding.

The fleet comprises 128 modern vessels (~120 scrubber-fitted) with an average age of nine years on a fully delivered basis. Star Bulk was one of the early movers with regards to scrubber installations. The fleet composition is tilted towards the larger vessels, newcastleamaxes and capesizes.

Star Bulk Carriers updated its dividend policy during Q1’21 with the objective to increase cash returns to shareholders. The policy states the company’s intention to pay out cash in excess of a minimum cash balance on a quarterly basis. As of Q2’21, the company expects a strong market for Q4, thus keeping its fleet mostly trading spot.