Star Bulk has sold a 1994-built bulker MV Star Julia for demolition in a deal that the company said will generate a profit over net book value. 70,100-dwt panamax MV Star Julia will go to an Indian breakers’ yard by early February. Demolition value of the ship is around $5m or $440 per ldt.
MV Star Julia was one of the 34 vessels acquired from Excel Maritime Carriers in a massive en bloc transaction last August. Petros Pappas-led owner has set a target to maintain a young average age to its fleet.
Star Bulk has a fleet of 101 vessels including 34 newbuildings due for delivery by 2016.
Dry Bulk Shipping News - Shipbroker Notes