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Oil prices rose above $108 a barrel after an attack forced the closure of Saudi Arabia's East-West pipeline, a critical route used to bypass the Strait of Hormuz. At the same time, conflict in Yemen is creating fresh risks for ships moving through the Bab el-Mandeb Strait, another vital chokepoint.
For a shipping giant like Star Bulk, these disruptions are a double-edged sword. While instability in key waterways can force ships to take longer routes, which reduces the number of available vessels and can push up the daily rates the company charges, it also raises insurance costs and creates significant safety risks for the fleet.
Source: Bloomberg Markets and Finance
Star Bulk is expanding its reach to European investors by listing its shares on the Euronext Athens exchange. Alongside this move, the company is offering new shares to raise up to 112.2 million euros (about 124 million dollars).
While issuing new shares can sometimes dilute the value for existing owners, this move broadens the company's investor base and provides extra cash for its ongoing fleet modernization. For a business that prides itself on scale and low costs, having more flexible access to European capital markets is a logical step following its recent merger with Eagle Bulk.
Source: GlobeNewsWire
Management has a history of setting conservative targets and then clearing them, with recent results consistently outrunning even the highest analyst forecasts.
| Expectation | |
|---|---|
| EPS | $1.21 |
| Revenue | $317M |
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