Star Bulk Carriers has entered into agreements to sell four newbuilding Capesize vessels to unaffiliated third parties for an aggregate gross price of $148mln.
The vessels are currently under construction in China at Shanghai Waigaoqiao Shipbuilding.
The Vessels are expected to be delivered to the Buyers during the first and second quarter of 2016.
Star Bulk, a global shipping company providing worldwide seaborne transportation solutions in the dry bulk, intends to use a portion of the net proceeds from the sale of the Vessels to pay the remaining delivery installments related to these Vessels and use the remainder for general corporate purposes, including capital expenditures.
On a fully delivered basis, Star Bulk will have a fleet of 80 vessels, with an aggregate capacity of 9.0 million dwt, consisting of Newcastlemax, Capesize, Post Panamax, Kamsarmax, Panamax, Ultramax, Supramax and Handymax vessels with carrying capacities between 45,588 dwt and 209,537 dwt.