Star Bulk Carriers has bought back 13,325 shares at an average price of $9 each in a total expenditure of $119,925.
Late last month the company announced a share repurchase program to buy up to an aggregate of $50m of its common shares.
Analysts say that with Star Bulk’s shares well below their net asset value (NAV) share repurchases make better sense than buying more ships or paying cash dividends.
