rss icon Subscribe
desktop mobile

Star Bulk Carriers Reports Q1 Loss

Pic: Star Bulk Carriers Corp.

Shailaja A. Lakshmi

Greek shipping company Star Bulk Carriers Corp reported a net loss of $5.3 million, or $0.06 loss per share for the first quarter ended March 31, 2019.

Net income for the first quarter of 2018 was $9.9 million, said the global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector.

"By the end of May 2019 we are on track to have 40 vessels scrubber fitted. We expect to have a fully scrubber fitted fleet by January 2020. Because we expect 2020 to be a more profitable year, we want to maximize the operating days in 2020 and we thus bring forward to 2019 all our drydocks that would otherwise be due in 2020," said Petros Pappas, Chief Executive Officer of Star Bulk.

"We expect to undergo 52 drydocks during this year mostly concurrent with scrubber installations which, in combination with 50 at sea installations, will reduce as much as possible our off hire time during 2019," he added.

Voyage revenues for the first quarter of 2019 increased to $166.5 million from $121.1 million in the first quarter of 2018.

May 22, 2019

 

People & Company News

FMS Names Trond Prestroenning as CEO

Trond Prestroenning. Photo: ©Fr. Meyer’s Sohn

Fr. Meyer's Sohn (FMS), a global forwarding company for sea freight, announced that Trond

Maritime Anti-Corruption Network Links to SDGs

Pic: MACN

The activities of Maritime Anti-Corruption Network (MACN)  align closely with the United Nations’

Orolia Maritime Signs Multi-Year Contract with Kongsberg

Photo: Orolia

Orolia Maritime has announced it has signed a multi-year contract with Kongsberg Maritime

Bulk Carriers

MOL Intros 'EeneX'

©By Nightman1965/Adobe Stock

Japanese shipping giant Mitsui O.S.K. Lines (MOL) has announced a vessel design it calls "EeneX

Wartsila, Grimaldi Cut 3.5% Fuel Bills

Image: The Energy Saving Device was successfully tested on the ‘Grande Portogallo’, a Grimaldi Lines vessel. Copyright: Grimaldi.

Finnish technology group Wärtsilä,  the Netherlands based Maritime Research Institute MARIN and

Diana Shipping Sells Thetis

Pic: Diana Shipping

Diana Shipping, through a separate wholly-owned subsidiary, has entered into a Memorandum of

Maritime Apps