Star Bulk Takes Delivery of M/V Leviathan, Its Second Eco, Fuel-Efficient Capesize and Provides Fleet Status Update
Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargoes, announced that on September 19, 2014 it has taken delivery of M/V Leviathan (the “Vessel”), a 182,000 dwt Capesize built by Japan Marine United (“JMU”), one of the leading shipyards worldwide.
The Vessel is a sistership to M/V Peloreus already delivered to the Company and is the second of six similar vessels ordered at JMU (collectively the “JMU Capesize vessels”) with expected deliveries until the 3rd quarter of 2015. The JMU Capesize vessels are all built with modern specifications and we anticipate they will have amongst the lowest fuel consumptions and carbon emissions of vessels of similar size and age.
The Vessel is currently employed in the spot market in order to take advantage of its modern design and fuel-efficient specifications.
The Company has partially financed the $34.63 million final delivery installment for the Vessel, using $32.5 million proceeds from the previously committed 5 year senior secured credit facility by Deutsche Bank AG, while the remaining amount was financed using cash on hand. The vessel was fitted with additional and higher specification equipment of approximately $0.54 million, the payment of which is included in the aforementioned final delivery installment.
Following the delivery of M/V Leviathan and inclusive of the two Kamsarmax vessels to be delivered from Heron Ventures Ltd., Star Bulk will own forty two dry bulk vessels on the water, consisting of twelve Capesize, four Post-Panamax, seven Kamsarmax, five Panamax, two Ultramax and ten Supramax vessels with average age of approximately 8.1 years.
In addition, Star Bulk has entered into definitive contracts for the acquisition of 26 second hand vessels (out of a total of 34 vessels with 8 vessels already delivered) from Excel Maritime Carriers Ltd. and the construction of additional thirty five vessels at high quality shipyards in Japan and China, including thirteen Newcastlemax, eight Capesize and fourteen Ultramax vessels with fuel-efficient specifications and with expected deliveries in 2014, 2015 and early 2016.
Source: Star Bulk Carriers Corp.
The table below provides an updated overview of Star Bulk’s fleet:
Vessel Name | Drybulk Vessel Type | Capacity (dwt.) | Year Built | ||||
1 | Leviathan | Capesize | 182,000 | 2014 | |||
2 | Peloreus | Capesize | 182,000 | 2014 | |||
3 | Obelix | Capesize | 181,433 | 2011 | |||
4 | Pantagruel | Capesize | 180,181 | 2004 | |||
5 | Star Borealis | Capesize | 179,678 | 2011 | |||
6 | Star Polaris | Capesize | 179,600 | 2011 | |||
7 | Big Fish | Capesize | 177,662 | 2004 | |||
8 | Kymopolia | Capesize | 176,990 | 2006 | |||
9 | Big Bang | Capesize | 174,109 | 2007 | |||
10 | Star Aurora | Capesize | 171,199 | 2000 | |||
11 | Star Mega | Capesize | 170,631 | 1994 | |||
12 | Star Big | Capesize | 168,404 | 1996 | |||
13 | Amami | Post Panamax | 98,681 | 2011 | |||
14 | Madredeus | Post Panamax | 98,681 | 2011 | |||
15 | Star Sirius | Post Panamax | 98,681 | 2011 | |||
16 | Star Vega | Post Panamax | 98,681 | 2011 | |||
17 | Pendulum | Kamsarmax | 82,619 | 2006 | |||
18 | Star Mariella | Kamsarmax | 82,500 | 2006 | |||
19 | Star Nasia | Kamsarmax | 82,500 | 2006 | |||
20 | Star Kamila | Kamsarmax | 82,500 | 2005 | |||
21 | Mercurial Virgo | Kamsarmax | 81,545 | 2013 | |||
22 | Magnum Opus | Kamsarmax | 81,022 | 2014 | |||
23 | Tsu Ebisu | Kamsarmax | 81,001 | 2014 | |||
24 | Star Aline | Panamax | 76,500 | 2004 | |||
25 | Star Iris | Panamax | 76,500 | 2004 | |||
26 | Star Emily | Panamax | 76,500 | 2004 | |||
27 | Star Natalie | Panamax | 73,800 | 1998 | |||
28 | Star Tatianna | Panamax | 69,600 | 1993 | |||
29 | Star Challenger | Ultramax | 61,462 | 2012 | |||
30 | Star Fighter | Ultramax | 61,455 | 2013 | |||
31 | Maiden Voyage | Supramax | 58,722 | 2012 | |||
32 | Strange Attractor | Supramax | 55,742 | 2006 | |||
33 | Star Omicron | Supramax | 53,489 | 2005 | |||
34 | Star Gamma | Supramax | 53,098 | 2002 | |||
35 | Star Zeta | Supramax | 52,994 | 2003 | |||
36 | Star Delta | Supramax | 52,434 | 2000 | |||
37 | Star Theta | Supramax | 52,425 | 2003 | |||
38 | Star Epsilon | Supramax | 52,402 | 2001 | |||
39 | Star Cosmo | Supramax | 52,247 | 2005 | |||
40 | Star Kappa | Supramax | 52,055 | 2001 | |||
To be delivered from Heron Ventures | |||||||
41 | ABYO Angelina | Kamsarmax | 82,987 | 2006 | |||
42 | ABYO Gwyneth | Kamsarmax | 82,790 | 2006 | |||
Total dwt: | 4,289,500 | ||||||
Acquisition Fleet to be delivered | |||||||||
Vessel Name | Drybulk Vessel Type | Capacity (dwt.) | Year Built | Shipyard | |||||
43 | Christine | Capesize | 180,300 | 2010 | Koyo Dock Japan | ||||
44 | Sandra | Capesize | 180,300 | 2008 | Koyo Dock Japan | ||||
45 | Iron Miner | Capesize | 177,900 | 2007 | SWS China | ||||
46 | Lowlands Beilun | Capesize | 170,200 | 1999 | Halla Korea | ||||
47 | Iron Beauty | Capesize | 164,900 | 2001 | CSBC China | ||||
48 | Kirmar | Capesize | 164,200 | 2001 | CSBC China | ||||
49 | Iron Manolis | Kamsarmax | 82,500 | 2007 | Tsuneishi Japan | ||||
50 | Pascha | Kamsarmax | 82,500 | 2006 | Tsuneishi Japan | ||||
51 | Coal Gypsy | Kamsarmax | 82,500 | 2006 | Tsuneishi Japan | ||||
52 | Coal Hunter | Kamsarmax | 82,500 | 2006 | Tsuneishi Japan | ||||
53 | Iron Brooke | Kamsarmax | 82,500 | 2007 | Tsuneishi Japan | ||||
54 | Iron Fuzeyya | Kamsarmax | 82,500 | 2006 | Tsuneishi Japan | ||||
55 | Iron Vassilis | Kamsarmax | 82,500 | 2006 | Tsuneishi Japan | ||||
56 | Ore Hansa | Kamsarmax | 82,500 | 2006 | Tsuneishi Japan | ||||
57 | Iron Bill | Kamsarmax | 82,500 | 2006 | Tsuneishi Japan | ||||
58 | Iron Kalypso | Kamsarmax | 82,500 | 2006 | Tsuneishi Japan | ||||
59 | Iron Lindrew | Kamsarmax | 82,500 | 2007 | Tsuneishi Japan | ||||
60 | Isminaki | Panamax | 74,600 | 1998 | Sasebo Japan | ||||
61 | Elinakos | Panamax | 73,800 | 1997 | Sumitomo Japan | ||||
62 | Rodon | Panamax | 73,700 | 1993 | HHI Korea | ||||
63 | Coal Pride | Panamax | 72,500 | 1999 | Imabari Japan | ||||
64 | Happyday | Panamax | 71,700 | 1997 | Hitachi Korea | ||||
65 | Birthday | Panamax | 71,500 | 1993 | Hitachi Korea | ||||
66 | Powerful | Panamax | 70,100 | 1994 | Hudong China | ||||
67 | Emerald | Handymax | 45,600 | 1998 | Tsuneishi Japan | ||||
68 | Princess 1 | Handymax | 38,900 | 1994 | I.H.I Japan | ||||
Total dwt: | 2,537,700 | ||||||||
Grand Total dwt: | 6,827,200 |
Newbuilding Vessels | |||||||||
Vessel Name | Drybulk Vessel Type | Capacity (dwt.) | Shipyard | Expected Delivery Date | |||||
69 | HN 5016 (tbrIndomitable) | Capesize | 182,160 | JMU, Japan | November 2014 | ||||
70 | HN 1061 | Ultramax | 64,000 | New Yangzijiang, China | January 2015 | ||||
71 | HN 1063 | Ultramax | 64,000 | New Yangzijiang, China | January 2015(1) | ||||
72 | HN 1062 | Ultramax | 64,000 | New Yangzijiang, China | February 2015(1) | ||||
73 | HN 5017 | Capesize | 182,000 | JMU, Japan | March 2015 | ||||
74 | HN NE 164 (tbrHoney Badger) | Ultramax | 61,000 | NACKS, China | March 2015(1) | ||||
75 | HN NE 165 | Ultramax | 61,000 | NACKS, China | March 2015(1) | ||||
76 | HN NE 166 | Newcastlemax | 209,000 | NACKS, China | April 2015(1) | ||||
77 | HN 1064 | Ultramax | 64,000 | New Yangzijiang, China | April 2015(1) | ||||
78 | HN 1312 | Capesize | 180,000 | SWS, China | April 2015(1) | ||||
79 | HN NE 167 | Newcastlemax | 209,000 | NACKS, China | May 2015(1) | ||||
80 | HN 5040 (tbr Star Acquarius) | Ultramax | 60,000 | JMU, Japan | June 2015 | ||||
81 | HN 1313 | Capesize | 180,000 | SWS, China | June 2015(1) | ||||
82 | HN 1338 (tbr Star Aries) | Capesize | 180,000 | SWS, China | June 2015(1) | ||||
83 | HN 1080 | Ultramax | 64,000 | New Yangzijiang, China | July 2015 | ||||
84 | HN 5055 | Capesize | 182,000 | JMU, Japan | July 2015 | ||||
85 | HN NE 184 | Newcastlemax | 209,000 | NACKS, China | July 2015 | ||||
86 | HN 1372 (tbr Star Libra) | Newcastlemax | 208,000 | SWS, China | July 2015(1) | ||||
87 | HN 1081 | Ultramax | 64,000 | New Yangzijiang, China | August 2015 | ||||
88 | HN 5056 | Capesize | 182,000 | JMU, Japan | August 2015 | ||||
89 | HN 5043 (tbr Star Pisces) | Ultramax | 60,000 | JMU, Japan | September 2015 | ||||
90 | HN 1082 | Ultramax | 64,000 | New Yangzijiang, China | September 2015 | ||||
91 | HN 1359 | Newcastlemax | 208,000 | SWS, China | September 2015(1) | ||||
92 | HN NE 196 (tbr Star Antares) | Ultramax | 61,000 | NACKS, China | September 2015(1) | ||||
93 | HN NE 197 (tbr Star Lutas) | Ultramax | 61,000 | NACKS, China | October 2015(1) | ||||
94 | HN 1083 | Ultramax | 64,000 | New Yangzijiang, China | November 2015 | ||||
95 | HN 1360 | Newcastlemax | 208,000 | SWS, China | December 2015 | ||||
96 | HN 1339 (tbr Star Taurus) | Capesize | 180,000 | SWS, China | December 2015(1) | ||||
97 | HN 1371 (tbr Star Virgo) | Newcastlemax | 208,000 | SWS, China | December 2015(1) | ||||
98 | HN 1342 (tbr Star Gemini) | Newcastlemax | 208,000 | SWS, China | January 2016 | ||||
99 | HN NE 198 (tbr Star Poseidon) | Newcastlemax | 209,000 | NACKS, China | February 2016(1) | ||||
100 | HN 1361 | Newcastlemax | 208,000 | SWS, China | March 2016(1) | ||||
101 | HN 1343 (tbr Star Leo) | Newcastlemax | 208,000 | SWS, China | April 2016 | ||||
102 | HN 1362 | Newcastlemax | 208,000 | SWS, China | May 2016(1) | ||||
103 | HN 1363 | Newcastlemax | 208,000 | SWS, China | June 2016(1) | ||||
Total dwt: | 5,032,160 | ||||||||
(1)The indicated expected delivery dates for the respective newbuilding vessels reflect delivery dates that are earlier than the respective contracted delivery dates.