The Tsuneishi-built, 45,000-dwt Star Michele (built 1998), which is due for drydocking in August, has been sold for further trading for $2.3m, some $200,000 above its demolition value, according to sources.
In August 2014, US-listed Star Bulk struck a $635m deal to acquire bankrupt Excel Maritime Carriers with a fleet of 34 bulkers. The deal lifted its fleet to more than 70 ships and 20 newbuildings.
But
