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Stock Market & Financial Investment News

News Breaks
March 7, 2014
09:05 EDTSBLKStar Bulk Carriers takes delivery M/V Star Sirius
Star Bulk Carriers 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. The Vessel has commenced a time charter with the sellers of the Vessel, Glocal Maritime, 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 $12.4M 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.
News For SBLK From The Last 14 Days
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February 4, 2016
10:01 EDTSBLKOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Anglo Platinum (AGPPY) downgraded to Neutral from Overweight at JPMorgan... Buffalo Wild Wings (BWLD) downgraded to Neutral from Buy at Longbow... Changyou.com (CYOU) downgraded to Neutral from Outperform at Credit Suisse... Enbridge (ENB) downgraded to Neutral from Outperform at Credit Suisse... Esterline (ESL) downgraded to Hold at Drexel Hamilton... Franco-Nevada (FNV) downgraded to Neutral from Outperform at Credit Suisse... GoPro (GPRO) downgraded on results, guidance at Sterne Agee CRT... Heat Biologics (HTBX) downgraded to Speculative Buy from Buy at Cantor... Illumina (ILMN) downgraded to Hold from Buy at Canaccord... Intrawest Resorts (SNOW) downgraded to Neutral from Outperform at Macquarie... Match Group (MTCH) downgraded to Equal Weight from Overweight at Barclays... Memorial Resource (MRD) downgraded to Hold from Accumulate at Tudor Pickering... Pacific Biosciences (PACB) downgraded to Neutral from Overweight at Piper Jaffray... Peabody (BTU) downgraded to Underperform from Market Perform at FBR Capital... Peak Resorts (SKIS) downgraded to Underperform from Neutral at Macquarie... PennyMac Mortgage (PMT) downgraded to Market Perform from Outperform at Wells Fargo... Petrobras (PBR) downgraded to Underweight from Neutral at JPMorgan... Sensata (ST) downgraded to Neutral from Overweight at Atlantic Equities... Shutterfly (SFLY) downgraded to Neutral from Buy at BofA/Merrill... Star Bulk Carriers (SBLK) downgraded to Neutral from Speculative Buy at Seaport Global... Synchronoss (SNCR) downgraded at Stifel... Wabtec (WAB) downgraded to Neutral from Buy at Goldman.
09:18 EDTSBLKStar Bulk Carriers downgraded to Neutral from Speculative Buy at Seaport Global
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February 1, 2016
16:08 EDTSBLKStar Bulk Carriers announces agreement to sell modern Capesize vessel
Star Bulk Carriers announced that the company has entered into an agreement to sell M/V Obelix (a 181,433 dwt Capesize vessel, built in 2011) to an unaffiliated third party for $23.3M, net of all commissions. The Vessel is expected to be delivered to the Buyers during the first half of 2016. The Company intends to use a portion of the net proceeds from the sale of the Vessel for repayment of the outstanding debt amount related to the Vessel and the remainder for general corporate purposes, including capital expenditures.

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