Crew Reviews, Ratings & Info for Star-Wave

Star Bulk Carriers, a prominent name in the maritime industry listed on the US stock exchange, has successfully completed the purchase of Songa Bulk, a Norwegian company featured on the Oslo Stock Exchange. Songa Bulk boasts a modern fleet of 15 bulk carriers, which includes three Capesize bulkers, ten Kamsarmax bulkers, one Ultramax bulker, and one Supramax bulker. This acquisition sees Star Bulk issuing 13.7 million new shares alongside a cash payment of $145 million, with China Merchants Bank Leasing facilitating the financing for the cash component of this significant deal. Furthermore, Star Bulk has agreed to acquire additional assets, specifically three Newcastlemax bulkers currently under construction at Shanghai Waigaoqiao Shipbuilding (SWS), which are scheduled for delivery in the fourth quarter of 2018 and the first quarter of 2019. For this segment of the acquisition, Star Bulk will issue 3.39 million new shares, with CSSC Shipping Company stepping in to provide $104.4 million to fund the purchase of these three advanced vessels.