Analyst Omar Nokta notes the rapidly expanding owner has funds in place for 24 of its 35 newbuildings.

Discussions are also ongoing with banks to cover nine more of the ships, with fresh cheques likely within one of two months, the analyst said in a report today that drew on Star’s third quarter results presentation.

“Star Bulk has $1.26bn of remaining newbuilding shipyard instalments and plans to fund $1.04bn