Star Bulk Carriers is considering newbuildings and secondhand purchases after its latest equity raise put it on a new plane of financial strength.
Chief executive Spyros Capralos says the New York-listed bulker owner is a “completely different company” than it was before the equity offering, which saw US financial firms Oaktree Capital and Monarch Alternative Capital each take 18.6% shareholdings.
Star Bulk’s market capitalisation has surged from $30m to $164m, and the company has the financial capacity to buy another $120m to $150m-worth of assets, says Global Hunter Securities analyst Omar Nokta.
“We
