Petros Pappas, is a passive minority investor in three of the 16 acquired vessels. The deal is expected to be completed in the second quarter of 2018, subject to the execution of definitive finance agreements and customary closing conditions.Īn entity affiliated with family members of Star Bulk CEO, Mr. As part of the deal, the Star Bulk will assume debt of $310.0 million. (Nasdaq: SBLK) reports that it has agreed to acquire 16 vessels from entities affiliated with Augustea Atlantica SpA and York Capital Management in an all-share transaction.Īccording to the 16 vessels have an aggregate value of $441.04 million.Īs consideration for the vessel acquisition, Star Bulk has agreed to issue approximately 10.5 million common shares to the sellers of the 16 vessels, equal to approximately 14.1% of Star Bulk’s common shares after the closing of the vessel acquisition. Suez Canal Authority raises sunken tugboatĪPAthens, Greece, headquartered Star Bulk Carriers Corp.Traffic resumes after Suez Canal collision.VIDEO: All-electric workboat cleans up plastics and debris.Kongsberg Maritime retrofit delivers 23% cut in CO2 emissions for Hurtigruten. VIDEO: Bonnie G fuel removal gets underway.Dynagas LNG Partners ice class LNG carrier awarded new Equinor time charter.Maersk’s record breaking year ends on a muted note.Containership deliveries reach a record high.Is the battle for Euronav nearing an end?.USCG recovers more human remains from Titan submersible wreck site.NTSB: Fatigue and complacency led to $10.6 million WSF “hard landing“.Intellian and Inmarsat in MOU on new GMDSS terminal.CMA CGM reaches settlements with EPA on VGP violation claims.Offshore Energy Security Act aims to get offshore oil and gas lease sales moving.Europe’s FuelEU aims to kick start shift to greener fuels.Senator says Buy American waiver should not apply to Small Shipyard grants.New AOWFA legislation aims to close offshore energy Jones Act loophole.
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