Star Bulk Carriers’ roughly $500m acquisition of Connecticut-based Eagle Bulk Shipping this week is the capstone — for now — on nearly a decade of consolidation moves and its largest acquisition since 2014.

This week’s play on New York-listed Eagle’s fleet of 52 supramax and ultramax bulkers is the 10th time Star has moved on targets ranging from a few ships to an entire fleet or company, using its stock to backstop the acquisition in each case.