Star Bulk entertains long-term goal of de-levering company completely

By Devika Patel

Knoxville, Tenn., Nov. 21 – Star Bulk Carriers Corp. management hopes to deleverage the company “as much as possible,” and may eliminate the company’s leverage entirely, which is a long-term goal.

“Our goal is to deleverage Star Bulk as much as possible and potentially completely,” co-chief financial officer Christos Begleris said on the company’s third quarter ended Sept. 30 earnings conference call on Wednesday.

“That’s our long-term goal,” Begleris said.

The company has repaid all of the debt incurred from its restructuring two years ago and may now issue new debt.

“Having repaid all our deferred debt amounts originating from our 2016 restructuring, the company now has no restrictions on vessel acquisitions, new debt or share buybacks,” chief executive officer Pertos A. Pappas said on the call.

Star Bulk is an Athens-based provider of transportation services for the dry bulk goods sector.

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