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Star Bulk acquires three scrubber-fitted capesizes from E.R. Capital

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Nasdaq-listed Star Bulk Carriers Corp has penned a deal to acquire three capesize bulk carriers from E.R. Capital Holding for a consideration of $39m in cash and 2.1m common shares of Star Bulk.

The three 180,000-dwt, 2010-Hyundai Heavy Industries built ships are the E.R. Bayonne, E.R. Buenos Aires, and E.R. Borneo. They are retrofitted with scrubbers.

“The company is in advanced discussions with a leading financial institution to finance the cash consideration through proceeds of a five-year term loan,” Star Bulk stated.

The capesizes are scheduled to be handed over to Star Bulk by early-February 2021.

At present, Star Bulk operates a fleet of 119 vessels with an aggregate capacity of 13.4m dwt, consisting of newcastlemaxes, capesizes, mini-capesizes, post-panamaxes, kamsarmaxes, panamaxes, ultramaxes, and supramaxes.

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