Star Bulk Carriers Interview on Company Performance, Strategy, & Dry Bulk Shipping Sector Outlook

NEW YORK, June 16, 2022 (GLOBE NEWSWIRE) -- Hamish Norton, President of Star Bulk Carriers Corp (NASDAQ: SBLK), discussed with Barry Parker of Capital Link TV, Star Bulk’s key 1Q22 performance highlights and achievements, the corporate strategy going forward, and the current state and outlook of the dry bulk shipping market.

The full interview can be accessed on the Capital Link TV YouTube page linked below:
https://youtu.be/w-8_rc2r6pY

The full list of Capital Link’s Trending News interviews can be accessed through the link below:
https://capitallinkshipping.com/capital-link-tv/

About Star Bulk
Star Bulk is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk’s vessels transport major bulks, which include iron ore, minerals and grain, and minor bulks, which include bauxite, fertilizers and steel products. Star Bulk was incorporated in the Marshall Islands on December 13, 2006 and maintains executive offices in Athens, New York, Limassol, Singapore and Germany. Its common stock trades on the Nasdaq Global Select Market under the symbol “SBLK”. Star Bulk operates a fleet of 128 vessels, with an aggregate capacity of 14.1 million dwt, consisting of 17 Newcastlemax, 22 Capesize, 2 Mini Capesize, 7 Post Panamax, 41 Kamsarmax, 2 Panamax, 20 Ultramax and 17 Supramax vessels with carrying capacities between 52,425 dwt and 209,529 dwt.

Star Bulk’s 1Q22 Earnings Presentation can be accessed using the link below:
https://www.starbulk.com/media/uploads_file/2022/05/25/p1g3s7srp73dv1tto1ppp1bcbs1t4.pdf

On May 24^th Star Bulk Carriers reported its first quarter of 2022 financial results. Star Bulk’s CEO, Petros Pappas commented: “Star Bulk reported strong results for the first quarter of 2022, with Net Income of $170.4 million, EBITDA of $220.7 million and TCE Revenues of $304.9 million. TCE for the quarter was $27,405 / day per vessel, an increase of 77% YoY. This result marks our strongest daily TCE performance for the first quarter of a year, when rates are traditionally weaker, since 2009. Looking to the next quarter, we have covered 74.3% of our available days for Q2 at a TCE of $29,759 / day per vessel.

“We continue to return profits to our shareholders, with the Board of Directors approving a dividend of $1.65 per share as per the Company’s existing dividend policy. Over the last four quarters, we have distributed a dividend of $5.60 per share to our shareholders.

“Dry bulk market prospects are favorable, notwithstanding the challenging global economic conditions. Main driver remains the limited supply growth with the historically low vessel orderbook and the upcoming environmental regulations further suppressing orders and speeds. Demand is still robust with continued strong commodity flows over longer distances due to infrastructure investments and trade dislocations.”

Star Bulk’s 2020 ESG Report can be accessed using the link below:
https://www.starbulk.com/media/uploads_file/2021/11/09/p1fk2ig1fmrqv1vnh1u80erl19ut4.pdf

About Capital Link
Founded in 1995, Capital Link provides Investor & Public Relations and Media services to several listed and private companies, including companies featured in these webinars, podcasts and presentations. All these, including the ones mentioned above, are for informational and educational purposes and should not be relied upon. They do not constitute an offer to buy or sell securities or investment advice or advice of any kind. The views expressed are not those of Capital Link which bears no responsibility for them. In addition, Capital Link organizes a series of industry and investment conferences annually in key industry centers in the United States, Europe and Asia, all of which are known for combining rich educational and informational content with unique marketing and networking opportunities. Capital Link is a member of the Baltic Exchange. Based in New York City, Capital Link has presence in London, Athens & Oslo. For additional information please visit: www.capitallink.com

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