Welcome to our dedicated page for Star Bulk Carriers news (Ticker: SBLK), a resource for investors and traders seeking the latest updates and insights on Star Bulk Carriers stock.
Star Bulk Carriers Corp. (SBLK) is a global dry bulk shipping company whose news flow reflects developments in deep sea freight transportation and the broader dry bulk market. The company provides worldwide seaborne transportation solutions for major bulks such as iron ore, coal, minerals and grain, as well as minor bulks including bauxite, fertilizers and steel products. Its common shares trade on the Nasdaq Global Select Market, and it reports financial and operating results through regular press releases and SEC filings.
News about Star Bulk often centers on quarterly and annual financial results, where the company discloses voyage revenues, net income, EBITDA, Adjusted EBITDA, TCE revenues and TCE rates. These releases typically include commentary from management on market conditions, fleet performance and capital allocation. Investors following SBLK news can see how metrics such as daily TCE rates and operating expenses per vessel evolve across different quarters and vessel categories.
Another recurring theme in Star Bulk’s news is its capital allocation strategy, including declarations of quarterly cash dividends and updates on share repurchase programs authorized by the board of directors. Press releases describe the number of shares repurchased, average purchase prices and remaining authorization under repurchase programs, as well as the company’s stated approach to returning capital to shareholders.
Star Bulk’s news flow also covers fleet updates and transactions, such as agreements to sell specific vessels, deliveries of sold ships to new owners, and the acquisition of Kamsarmax newbuilding resales under construction. These announcements provide insight into how the company manages fleet renewal and adjusts its vessel mix. Additional items include information on new or refinanced loan and revolving credit facilities, interest rate swap activity, and scheduling of earnings releases, conference calls and webcasts.
For readers tracking SBLK, this news page offers a centralized view of Star Bulk’s operational, financial and corporate announcements, helping to contextualize movements in the company’s performance and fleet within the dry bulk shipping sector.
Star Bulk Carriers Corp. (Nasdaq: SBLK), a global dry bulk shipping company, has announced changes to its Board of Directors. Mr. Sherman Lau, a Class B Director since May 2021, has resigned. The Board has appointed Ms. Milena Maria Pappas as a Class B Director to fill the vacancy. The Board now consists of ten directors. Petros Pappas, CEO of Star Bulk, expressed gratitude for the contributions of Oaktree representatives on the board over the past decade, acknowledging their invaluable role in the company's success.
Star Bulk Carriers Corp. (Nasdaq: SBLK) reported a net profit of $106.1 million for the second quarter of 2024. The company declared a quarterly dividend of $0.70 per share, payable on September 6, 2024, to shareholders of record as of August 27, 2024. Key financial highlights include:
- Voyage Revenues: $352.9 million, up from $238.7 million in Q2 2023
- Net Income: $106.1 million, compared to $44.3 million in Q2 2023
- EBITDA: $171 million, up from $92.5 million in Q2 2023
- Earnings per Share: $0.93 diluted, up from $0.43 diluted in Q2 2023
- TCE Rate: $19,268, up from $15,835 in Q2 2023
- Fleet Size: Increased to 155 vessels from 126.4 in Q2 2023
The company also completed the merger with Eagle Bulk Shipping, issuing 5.97 million shares upon conversion of Eagle's 5% Convertible Senior Notes. The expected cost and revenue synergy target remains at $50 million, to be fully realized by 2025.
Star Bulk Carriers Corp. (Nasdaq: SBLK) has announced the conversion of all 5% Convertible Senior Notes issued by its subsidiary, Eagle Bulk Shipping Inc., into 5,971,290 newly issued shares of Star Bulk common stock. The conversion ratio was 86.0801 shares per $1,000 principal amount of notes. Additionally, 1,341,584 loaned shares are expected to be returned and cancelled by August 1, 2024. Following these transactions, Star Bulk's current share count will be 118,825,307, with outstanding debt at $1,381 million. This conversion marks a significant change in the company's capital structure, potentially impacting its financial position and shareholder value.
Star Bulk Carriers Corp. (Nasdaq: SBLK) will disclose its second-quarter financial results for the period ending June 30, 2024, after the market closes in New York on August 7, 2024. The company's management team will discuss these results in a conference call scheduled for August 8, 2024, at 11:00 a.m. Eastern Time (ET).
Interested participants can join the call by dialing +1 877 405 1226 (US Toll-Free), +1 201 689 7823 (US and Standard International), or +0 800 756 3429 (UK Toll-Free), and quoting “Star Bulk Carriers” with the conference ID 13747819. There is also an option to register for a quicker connection through a
Star Bulk Carriers reported a net profit of $74.9 million for Q1 2024, a significant increase from $45.9 million in Q1 2023. The company declared a quarterly dividend of $0.75 per share. Voyage revenues rose to $259.4 million from $224.0 million, and the Time Charter Equivalent (TCE) rate increased to $19,627 from $14,199. Star Bulk completed a merger with Eagle Bulk Shipping on April 9, 2024, resulting in a combined fleet of 161 vessels. The company sold seven older vessels for gross proceeds of $129.6 million and took delivery of three new vessels. Operating expenses decreased due to a smaller fleet size. Star Bulk entered into new loan facilities totaling $388.1 million to refinance Eagle's debt, adding $12.6 million in liquidity. The company remains optimistic about the dry bulk market's medium-term prospects, driven by favorable order books and upcoming environmental regulations.
Star Bulk Carriers has announced the release of its first-quarter financial results for 2024, scheduled for May 22 after market close in New York.
The company will host a conference call to discuss these results on May 23 at 11:00 a.m. ET.
Participants can join via toll-free numbers or register for a faster connection.
The call will also be webcast live and archived on the company's website, including slides and audio.
Star Bulk Carriers (Nasdaq: SBLK) announced the results of its 2024 Annual Meeting of Shareholders held on May 14, 2024, in Cyprus. Shareholders approved all proposals, including the re-election of Spyros Capralos, Koert Erhardt, and Sherman Lau as Class B Directors on the Board of Directors. Additionally, Deloitte Certified Public Accountants S.A. was appointed as the Company's independent auditors for the fiscal year ending December 31, 2024.
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