Star Bulk offloads oldest ship

Nasdaq-listed Greek dry bulk giant Star Bulk Carriers has revealed the sale of its oldest vessel in the fleet.

The Petros Pappas-led owner and operator has agreed to offload the 2004-built capsize Star Triumph for $20m. The buyer has not been disclosed.

The 176,300 dwt scrubber-fitted ship, the company acquired for $14.2m in October 2017, will bring in net proceeds of about $13m, with profits of some $7.7m booked in the third quarter.

Star Bulk, merged with US-based Eagle Bulk Shipping in April this year and currently boasts a fleet of more than 150 ships with carrying capacities between 53,500 dwt and 209,500 dwt.