Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Scott Graham - Unsplash.jpg Photo: Scott Graham - Unsplash

Star Bulk inks sale and leaseback deals worth $274m for 16 vessels

Star Bulk Carriers has penned commitments to sell and leaseback 16 vessels with four financial institutions in exchange for receiving $274.1m.

Star Bulk signed a deal with China Merchants Bank Leasing (CMBL) in July to sell and leaseback seven vessels, namely Laura, Idee Fixe, Roberta, Kaley, Diva, Star Sirius and Star Vega. The deal, expected to be concluded by end-August with lease terms of five years plus purchase option at the expiration of the bareboat charter term, will give Star Bulk $89m in aggregate.

The bulk carrier owner also entered a deal with an unnamed Japanese institution to sell and leaseback the vessel Star Lutas for $16m. The deal will be concluded by end-September with a lease term of seven years plus purchase obligation at the end of the bareboat charter term.

Three of Star Bulk’s newcastlemax vessels were also entered into sell and leaseback with a Chinese financial institution for $92.6m. The deal will be concluded in September with lease terms of 10 years plus purchase obligation.

Separately, Star Bulk signed a commitment letter with SPDB Financial Leasing to sell and leaseback five vessels, namely Mackenzie, Kennadi, Honey Badger, Wolverine, and Star Antares, for up to $76.5m. The deal is expected to be concluded in September with lease terms of eight years plus purchase obligation.

Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish
Maritime_Market_User_Promo_4
Looking For Suppliers?

Maritime Market is the online marketplace for the global maritime industry, making it easy to connect with suppliers 365 days a year. Powered by an extensive database of maritime professionals and businesses.

Maritime_Market_User_Promo_4