Coaltrans Global 2021CimbriaSailors SocietyBühler GmbHThe Wolfson Centre for Bulk Solids Handling Technology Vigan
  • TBA Group
  • Port of Vancouver USA
  • Telestack
  • Coaltrans Global 2021
  • Port of Stockton
  • Sailors Society

Star Bulk’s green loan

(Posted on 11/10/18)

Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargoes has announced that it has entered into a $310 million loan agreement, which includes a $70 million tranche that will exclusively finance the procurement and retrofitting of scrubbers for up to approx. 50 vessels in Star Bulk’s fleet. 

Star Bulk’s vessels transport major bulks, which include iron ore, coal and grain, and minor bulks, which include bauxite, fertilizers and steel products.

DNB Bank ASA, acted as the Mandated Lead Arranger, Facility Agent and Coordinator, along with ABN AMRO Bank N.V , BNP Paribas, Danish Ship Finance A/S and Skandinaviska Enskilda Banken AB as Mandated Lead Arrangers.  

The remaining $240 million were drawn on September 28, 2018 and refinanced in full a group of 26 vessels, namely 4 Newcastlemax, 4 Capesize, 2 Post Panamax, 14 Kamsarmax and 2 Supramax vessels.  

The Green Loan Tranche has been certified by DNV GL Business Assurance Services Limited to be aligned with the Green Loan Principles. The completion of this financing is an important milestone for Star Bulk and its lending partners, who are pioneering sustainable Green Loans for dry bulk shipping investments, which aim to promote maritime emission reductions and compliance with the 2020 IMO regulations.

The Green Loan Tranche has a margin of 280 basis points over LIBOR and an amortization profile of 4.5 years.  

Star Bulk was incorporated in the Marshall Islands on December 13, 2006 and maintains executive offices in Athens, Greece. Its common stock trades on the Nasdaq Global Select Market under the symbol “SBLK” and on the Oslo Stock Exchange under the ticker “SBLK R”. On a fully delivered basis, Star Bulk will have a fleet of 111 vessels, with an aggregate capacity of 12.67 million dwt, consisting of 17 Newcastlemax, 20 Capesize, 2 Mini Capesize, 7 Post Panamax, 35 Kamsarmax, 2 Panamax, 16 Ultramax and 12 Supramax vessels with carrying capacities between 52,055 dwt and 209,537 dwt.

The Company holds call options and has sold respective put options on 4 Capesize vessels, with exercise dates in early April 2019.

Latest News

New security guidance from ICS

(Posted on 11/04/21)

As recent news reports highlight, the shipping industry continues to face threats such as piracy, kidnapping... Read more


Algoma takes delivery of latest Equinox Class bulker

(Posted on 06/04/21)

Algoma Central Corporation, a leading supplier of marine transportation services, has announced that... Read more


Wavespec announces management buyout

(Posted on 06/04/21)

Wavespec, as the last technical entity within Braemar Shipping Services Plc, has announced that it is... Read more


Vaccination lottery for dry bulk sector

(Posted on 31/03/21)

INTERCARGO believes that, once again seafarers are falling victim to the lack of focus and joined up... Read more


Suez demonstrates importance of shipping

(Posted on 28/03/21)

As efforts to refloat the Ever Given continue, the International Chamber of Shipping (ICS) has released... Read more


GTMaritime moves to employee ownership

(Posted on 28/03/21)

GTMaritime has announced that it has transitioned its business to an Employee Owned Trust (EOT), in... Read more


Joint research on autonomous ships risk

(Posted on 28/03/21)

Leading classification society ClassNK has begun joint investigative research with Sompo Japan Insurance... Read more


Western Bulk looks to “promising” 2021

(Posted on 22/03/21)

Oslo-based global dry bulk operator, Western Bulk has published its 2020 Annual Report with a full year... Read more


Reducing seafarer anxiety and sadness

(Posted on 22/03/21)

International maritime charity Sailors’ Society’s Wellness at Sea training and support reduces... Read more


Great Eastern adds to bulk fleet

(Posted on 17/03/21)

The Great Eastern Shipping Company Limited (G E Shipping) has signed a contract to buy a second-hand... Read more


Cleveland Cascades LtdTBA GroupPort of StocktonPort of South LouisianaPort of Vancouver USATOC Events
  • Port of South Louisiana
  • Bühler GmbH
  • The Wolfson Centre for Bulk Solids Handling Technology
  • Cleveland Cascades Ltd

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping