Star Bulk Enters Into a Two-Year Time Charter Agreement for Its Second Capesize Newbuilding Star Polaris
Star Bulk Carriers Corp.(NASDAQ: SBLK) today announced that it has entered into a time charter contract with Louis Dreyfus Commodities Suisse SA for its second capesize newbuilding, the Star Polaris, for two years, plus a charterer's option for one additional year, at a gross daily rate of $16,500 for the first two years and $19,000 for the optional year. The Star Polaris is a newbuilding Capesize vessel of approximately 179,600 dwt that is expected to be delivered to this new charterer in November 2011, immediately after its delivery from the shipyard. The new contract is expected to contribute a minimum of $11.5 million to a maximum of $20.1 million in gross revenue.
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