Greek shipping company Star Bulk Carriers recently announced that it has entered into a definitive agreement with entities affiliated with ER Capital Holding, which will see the company acquire three dry bulk vessels within 2018, plus an option for four optional additional vessels in 2019.
The first set of vessels includes the ER Bourgogne, the ER Brandenburg and the ER Brighton, from Hyundai Samho, HHI, and Hyundai Vinashin yards respectively, and will be acquired for an aggregate of approximately 1.34 million common shares of Star Bulk and US$41.7 million in cash.
If both phases of the acquisition are completed, Star Bulk will have a fleet of 115 vessels on a fully delivered basis, with an average age of 7.5 years.