

(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.
Technology group Wärtsilä will partner with Transworld Group to apply the most advanced decarbonisation... Read more
Global healthcare specialist VIKAND has appointed Ronald Spithout as its Managing Director for VIKAND... Read more
The Columbia Group has underlined its commitment to the burgeoning Turkish maritime cluster by opening... Read more
ClassNK has granted its Innovation Endorsement for Products and Solutions to Inmarsat’s Fleet... Read more
The International Association of Dry Cargo Shipowners (INTERCARGO) has reached an historic membership... Read more
Competition authorities have now approved the merger of OSM Maritime Group and Thome Group. The merged... Read more
A new report from DNV and Lloyd’s List Intelligence, “Maritime safety trends 2012-2022:... Read more
Damen Services has opened its twelfth service hub, located in South-East Asia at Damen Song Cam shipyard... Read more
EUROMAR has announced that Portugal’s fleet has expanded by 39.6% since 2020, making it the fastest... Read more
Navarino, the maritime sector's pioneer in cutting edge IT and mobile connectivity solutions, and VIKAND... Read more