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Star Bulk Carriers Corp. (SBLK) financial news, and detailed stock charts

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Star Bulk Carriers Corp. (SBLK) Stock Summary:

Star Bulk Carriers Corp., through its subsidiaries, provides transportation services in the dry bulk sector for a range of customers of dry bulk cargoes worldwide. The company?s fleet carries various dry bulk commodities, including coal, iron ore, and grains; and bauxite, phosphate, fertilizers, and steel products. As of December 31, 2008, it owned and operated 12 vessels consisting of 4 Capesize and 8 Supramax drybulk carriers with a combined cargo capacity of 1.1 million deadweight tons. The company was founded in 2006 and is based in Athens, Greece.
67 Employees
Last Reported Date: 03/21/14
Founded in 2006
Last $11.04 USD
Change Today -0.05 / -0.45%
Volume 209.7K
As of 5:20 PM 05/23/14 All times are local (Market data is delayed by at least 15 minutes).

star bulk carriers corp (SBLK) Snapshot

Open
$11.05
Previous Close
$11.09
Day High
$11.27
Day Low
$11.02
52 Week High
03/6/14 - $15.88
52 Week Low
06/24/13 - $5.28
Market Cap
320.8M
Average Volume 10 Days
139.8K
EPS TTM
$0.19
Shares Outstanding
29.1M
EX-Date
11/30/12
P/E TM
59.2x
Dividend
--
Dividend Yield
--
SBLK:US Advanced Stock Chart

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star bulk carriers corp (SBLK) Key Developments

Star Bulk Carriers Corp. Takes Delivery of its Second Post-Panamax Bulk Carrier, Star Sirius

Star Bulk Carriers Corp. announced that it has taken delivery of M/V Star Sirius a Post-Panamax bulk carrier of approximately 98,000 deadweight tons carrying capacity. The Star Sirius is the second of the two modern Post-Panamax bulk carriers to be delivered to the company, pursuant to the relevant binding agreements announced on January 29, 2014. The Vessel has commenced a time charter with the sellers of the Vessel, Glocal Maritime Ltd., for a period between 28 months to 32 months, at a gross daily hire rate of $15,000 less a 1.25% address commission on gross revenues. The Vessel is expected to generate approximately $12.4 million in charter revenues over the minimum contracted period. Inclusive of the acquisition of M/V Star Sirius, Star Bulk owns seventeen dry bulk vessels, consisting of five Capesize, two Post-Panamax, two Ultramax and eight Supramax vessels with average age of approximately 8.9 years. In addition, Star Bulk has entered into definitive contracts for the construction of eleven, fuel efficient, dry bulk vessels, at high quality shipyards in Japan and China, including five Newcastlemax, two Capesize and four Ultramax vessels, with expected deliveries in 2015 and early 2016. The company has financed the purchase of the Vessel using cash on hand and expects to refinance 65% of the aggregate purchase price of the Vessel and of M/V Star Vega under the previously announced 7-year senior secured credit facility of up to $39.0 million with Deutsche Bank AG. The drawdown of the DB facility is expected to take place in March 2014.

Star Bulk Carriers Corp. Announces Unaudited Consolidated Financial Results for the Fourth Quarter and Full Year Ended December 31, 2013

Star Bulk Carriers Corp. announced unaudited consolidated financial results for the fourth quarter and full year ended December 31, 2013. For the fourth quarter of 2013, total voyage revenues amounted to $15.7 million compared to $17.7 million for the fourth quarter of 2012. This decrease was mainly attributed to the lower charter rates for some of vessels compared to the fourth quarter of 2012, and to the sale of the Star Sigma in March 2013. For the fourth quarter of 2013, operating income amounted to $1.3 million compared to operating income of $0.4 million for the fourth quarter of 2012. Net income for the fourth quarter of 2013 amounted to $0.05 million or earnings of $0.002 per basic and diluted share. Net loss for the fourth quarter of 2012 amounted to $1.4 million, or $0.26 per share. Excluding non-cash items, net income for the fourth quarter of 2013 would amount to $2.1 million, or $0.07 per basic and diluted share. Excluding non-cash items, net income for the fourth quarter of 2012 would amount to $0.3 million, or $0.05 per basic and diluted share, based on 5,400,813 weighted average number of basic and diluted shares. Adjusted EBITDA for the fourth quarter of 2013 and 2012, excluding the above items, was $7.4 million and $6.3 million, respectively, increased by 16.6%. Total revenues were $16,349,000 against $17,938,000 for the same period of last year. Net cash provided by operating activities was $5,064,000 against outflow of $476,000 for the same period of last year. For the year ended December 31, 2013, total voyage revenues amounted to $68.3 million compared to $85.7 million for the year ended December 31, 2012. This decrease was mainly attributed to the lower charter rates for some of vessels due to the decline in the dry bulk charter market and the lower average number of vessels during the year ended December 31, 2013 compared to the same period in 2012, due to the sale of the Star Ypsilon in February 2012 and Star Sigma in March 2013. For the year ended December 31, 2013, operating income amounted to $8.4 million compared to operating loss of $306.9 for the year ended December 31, 2012. Net income for the year ended December 31, 2013, amounted to $1.9 million, or $0.13 per basic and diluted share. Net loss for the year ended December 31, 2012, amounted to $314.5 million, or a loss of $58.32 per share. Excluding non-cash items, net income for the year ended December 31, 2013 would amount to $9.7 million, or $0.69 per basic and diluted share. Excluding non-cash items, net loss for the year ended December 31, 2012 would amount to $0.3 million, or $0.05 loss per basic and diluted share. Adjusted EBITDA for the year ended December 31, 2013 and 2012, excluding the above items, was $32.3 million and $40.4 million, respectively. Net cash provided by operating activities for the year ended December 31, 2013 and 2012, was $27.5 million and $19.0 million, respectively. For the year ended December 31, 2013 net cash used in investing activities consisted of $127.8 million paid for advances for nine new-building vessels, acquisitions of second hand vessels and other fixed assets, $8.3 million representing proceeds from sale of the vessel Star Sigma which concluded in March 2013 and under which the vessel was delivered to her new owner on April 10, 2013, a decrease of $7.2 million in restricted cash and insurance proceeds amounting to $4.3 million. Net cash provided by investing activities for the year ended December 31, 2012, consisted of the proceeds from sale of the vessel Star Ypsilon amounting to $8.0 million, a net decrease of $10.6 million in restricted cash, insurance proceeds amounting to $7.0 million and offset by $0.1 million regarding additions to other fixed assets. Total revenues were $69,894,000 against $86,162,000 for the same period of last year.

Star Bulk Enters into Agreements with CSSC for Two Newcastlemax Vessels

Star Bulk Carriers Corp. entered into agreements, or the bareboat charters, with CSSC Hong Kong Shipping Company Limited, an affiliate of Shanghai Waigaoqiao Shipbuilding Co. Ltd., or SWS, to bareboat charter, two newcastlemax dry bulk vessels, hull numbers 1372 and 1371, each with a cargo carrying capacity of 208,000 deadweight tons. The CSSC Vessels are currently under order at SWS at a monthly hire rate for each CSSC vessel ranging between $371,000 to $410,800 plus LIBOR. The Bareboat Charters have a 10-year term and are expected to commence when the vessels are delivered to Star Bulk, which is scheduled for November 2015 and February 2016, respectively. Under the terms of the Bareboat Charters, Star Bulk is required to pay CSSC $11.3 million and $11.8 million, representing the 20% of the construction price of $56.5 million for Hull 1372 and $59.0 million for Hull 1371 respectively. The upfront hires for each CSSC Vessel will be paid in two equal installments for each CSSC vessel, the first of which shall be due shortly and the second installment shall be due upon the completion of the steel-cutting stage of the construction of each CSSC Vessel. Under the terms of the Bareboat Charters, Star Bulk has options to purchase the CSSC Vessels at any time, which are exercisable monthly, against a predetermined, amortizing balance payment whilst it has a respective obligation at the expiration of the bareboat term. Upon the earlier of the exercise of the purchase options or the expiration of the Bareboat Charters, Star Bulk will own the CSSC Vessels.

Star Bulk Carriers Corp. financial resources

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Industry Analysis

SBLK

Industry Average

Valuation SBLK Industry Range
Price/Earnings 84.6x
Price/Sales 4.5x
Price/Book 1.2x
Price/Cash Flow 18.0x
TEV/Sales 1.3x
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Archieved Financial News About Star Bulk Carriers Corp.

Q2 2011 Star Bulk Carriers Corp Earnings Release - Before Market Open

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Star Bulk Carriers Corp. Reports Financial Results for the Second Quarter and First Half 2011 and Declares Quarterly Dividend of $0.05 per Share

Keywords: Star Bulk Carriers Corp. Reports Financial Results for the Second Quarter and First Half 2011 and Declares Quarterly Dividend of $0.05 per Share, sblk
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WRAPUP 1-Euroseas, Star Bulk sail past slowdown worries

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Star Bulk Carriers CEO Discusses Q2 2011 Results - Earnings Call Transcript

Quote: Star Bulk Carriers Corporation (SBLK) Q2 2011 Earnings Conference Call August 10, 2011 11:00 AM ETOperator Thank you for standing by ladies and gentlemen and welcome to the Starbulk conference call on the second quarter 2011 financial results. We have with us Mr. Spyros Capralos, President and Chief Executive Officer and Mr. George Syllantavos, Chief Financial Officer of the company. At this time, all participants are in a listen-only mode. There will be a presentation followed by a question and...
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Paragon Shipping: Value Play in Box Ships Equity

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Star Bulk Carriers: Good Buy at Current Prices

Quote: Background Star Bulk Carriers (SBLK) has taken a beating in the recent market, falling more than 25% in about two weeks. Although the shipping industry is in a major slump, nothing dramatic has changed in the past two weeks. In fact, due to the rapid stock price decline of most shipping companies, many companies are trading at, or even below, their liquidation value. I recently posted an article which suggests that an industry-wide consolidation phase is about to take place. Star Bulk is one of ...
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Star Bulk Takes Delivery of Secondhand Capesize Vessel "Star Big"

Keywords: Star Bulk Takes Delivery of Secondhand Capesize Vessel
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Star Bulk Announces Date for the Release of Second Quarter and First Half 2011 Results, Conference Call and Webcast

Keywords: Star Bulk Announces Date for the Release of Second Quarter and First Half 2011 Results, Conference Call and Webcast, sblk, earnings
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Star Bulk Carriers: Slipping Into Irrelevancy

Quote: Star Bulk Carriers (SBLK) has a spotted history. P. Pappas, current main shareholder, and Nobu Su of TMT fame (who still owned some 6% of the company before the recent secondary) decided to cash in on the sky-high dry bulk market of 2007/2008 and chose former CEO Tsirigakis, Pappas' employee at his private company, to lead the effort. In typical fashion, SBLK bought some very expensive ships from Nobu Su backed by very expensive charters back to TMT and others, paying by IPO cash, debt and share...
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Star Bulk Announces Public Offering of 16,500,000 Common Shares

Keywords: Star Bulk Announces Public Offering of 16,500,000 Common Shares, sblk
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Star Bulk Announces Pricing of Public Offering of Common Shares

Keywords: Star Bulk Announces Pricing of Public Offering of Common Shares, sblk
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Star Bulk Moves to New Executive Offices and Appoints Mr. Kleopas as Chief Operating Officer

Keywords: Star Bulk Moves to New Executive Offices and Appoints Mr. Kleopas as Chief Operating Officer, sblk
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Star Bulk Enters Into a Two-Year Time Charter Agreement for the Star Gamma

Keywords: Star Bulk Enters Into a Two-Year Time Charter Agreement for the Star Gamma, sblk
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InPlay: Star Bulk Carriers enters into a two-year time charter agreement for the Star Gamma

Keywords: market update, investing education, financial advice, financial planning
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Star Bulk Carriers Corp. (SBLK) CEO to Ring the NASDAQ Stock Market Opening Bell

Keywords: Star Bulk Carriers Corp. (SBLK) CEO to Ring the NASDAQ Stock Market Opening Bell, ndaq,sblk
Quote: ADVISORY, June 20, 2011 (GLOBE NEWSWIRE) --What: Star Bulk Carriers Corp. (SBLK), a global shipping company, will visit the NASDAQ MarketSite in New York City's Times Square. In honor of the occasion, Mr. Spyros Capralos, Chief Executive Officer, will ring the Opening Bell.Where:rd & Broadway -- Broadcast StudioWhen: st, 2011 -- 9:15 a.m. to 9:30 a.m. ETContact:Litsa Alexopouloulalexopoulou@starbulk.comNASDAQ MarketSite:Jen Knapp(212) 401-8916Jennifer.knapp@nasdaqomx.comFeed Information:The Open...
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A Useful Metric for Evaluating Shipping Companies

Quote: Results I calculated the debt-to-earnings metric for the following shipping companies using the latest earnings information:Diana Shipping (DSX), Navios Maritime (NM), Paragon Shipping (PRGN), Eagle Bulk Shipping (EGLE), Excel Maritime Carriers (EXM), Freeseas (FREE), Genco Shipping (GNK), Ocean Freight (OCNF), Dryships (DRYS), Safe Bulkers (SB), and Star Bulk Carriers (SBLK).The adjusted annualized EBITDA is computed by multiplying the company’s most recent reported adjusted EBITDA by a f...
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Star Bulk Carriers CEO Discusses Q1 2011 Results - Earnings Call Transcript

Quote: Star Bulk Carriers Corp. (SBLK) Q1 2011 Earnings Call May 13, 20119:00 am ETOperator Thank you for standing by, ladies and gentlemen, and welcome to the Star Bulk Conference Call on the First Quarter 2011 Financial Results. We have with us Mr. Spyros Capralos, President and Chief Executive Officer and Mr. George Syllantavos, Chief Financial Officer of the company. (Operator Instructions) I must advice you that the conference is being recorded today, Friday, May 13, 2011. And we now pass the flo...
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UPDATE 1-Star Bulk Carriers buys two capesize vessels for $51.5 mln

Keywords: United States, VyasMohan
Quote: Fri May 13, 2011 8:51am EDT * First vessel seen generating $38-44 mln gross rev * Second vessel seen generating $26-31 mln gross rev(Follows Alerts) May 13 (Reuters) - Greek dry bulk carrier Star Bulk Carriers Corp said it will buy two Capesize bulk carriers for an aggregate purchase price of about $51.5 million to increase itsfleet's carrying and earnings capacity. The company said both capesize vessels -- the biggest dry bulk ship type -- are expected to be delivered by July 2011 and have lon...
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Star Bulk Carriers Corp. Reports Financial Results for the First Quarter Ended March 31, 2011 and Declares Quarterly Dividend of $0.05 per Share

Keywords: Star Bulk Carriers Corp. Reports Financial Results for the First Quarter Ended March 31, 2011 and Declares Quarterly Dividend of $0.05 per Share, sblk
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Q1 2011 Star Bulk Carriers Corp. Earnings Release - After Market Close

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