Star Bulk Carriers Corp. (SBLK) owns and operates a shipping fleet consisting of thirteen drybulk carriers, including five Capesize vessels and eight Supramax vessels, with four more vessels on order. In addition, the company has a relatively small business (which the company however intends to grow) providing commercial and technical management services to third-party vessels.
Star Bulk is a drybulk shipping and management concern. As such, its fortunes are tied to that of an industrial sector plagued by persistently low shipping rates.
Indeed, the performance of Star Bulk's stock in recent quarters has been nothing short of abysmal. As a shipper in the drybulk sector, the company's stock is priced as that of a company undergoing severe financial...
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