Star Bulk Carriers Corp
NASDAQ:SBLK

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Star Bulk Carriers Corp
NASDAQ:SBLK
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Price: 18.26 USD 0.16%
Market Cap: 2.1B USD

Star Bulk Carriers Corp
Investor Relations

Star Bulk Carriers Corp. navigates the vast and often turbulent waters of global trade, where the world’s commodities set sail across the oceans. Founded with a keen sense of the market, Star Bulk operates primarily in the business of dry bulk shipping. It specializes in transporting a variety of essential commodities such as iron ore, coal, and grain—the building blocks of economies worldwide. The company’s fleet, consisting of a diverse range of vessel sizes from Capesize to Supramax, is meticulously managed to optimize routes and loads, ensuring operational efficiency and maximizing voyage profitability.

The heartbeat of Star Bulk's business model lies in its strategic chartering tactics. By leveraging period charters—contracts that fix a daily payment for the use of its ships over a set time—the company adeptly balances predictable revenue streams with market exposure. Additionally, its ability to engage in spot charters allows it to capitalize on soaring freight rates when demand spikes. This dual approach enables Star Bulk to navigate the cyclical nature of the maritime industry, adapting to shifting tides with an agility that sustains its financial health. Yielding a steady stream of earnings, Star Bulk continues to forge a distinct path in the complex realm of international shipping.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 19, 2025
AI Summary
Q3 2025

Profitability: Net income reached $18.5 million for Q3 2025, with adjusted net income of $32.4 million and adjusted EBITDA of $87 million.

Shareholder Returns: The company repurchased shares and declared a $0.11 dividend per share for the quarter, reflecting a continued focus on returning capital to shareholders.

Strong Liquidity: Total cash stands at $454 million, with pro forma liquidity over $570 million including undrawn facilities.

Fleet Renewal & Expansion: Star Bulk is actively renewing its fleet with new Kamsarmax vessels and disposing of older ships, maintaining one of the largest dry bulk fleets among peers.

Market Outlook: Management remains optimistic about dry bulk fundamentals, citing tight supply, strong recent demand, and stricter environmental regulations.

Capital Allocation: Since 2021, $2.8 billion has been used for dividends, buybacks, and debt repayment; dividends per share since 2021 total $13.2.

ESG Progress: Star Bulk released its 7th annual ESG report and continues to focus on decarbonization, technology upgrades, and corporate responsibility.

Key Financials
Net Income
$18.5 million
Adjusted Net Income
$32.4 million
Adjusted Income Per Share
$0.16
Adjusted EBITDA
$87 million
Dividend Per Share
$0.11
Total Cash
$454 million
Total Debt
$1.028 billion
Pro Forma Liquidity
$570 million
Share Buybacks Q3
250,000 shares for $4.4 million
Share Buybacks Q4 to date
360,000 shares for $6.7 million
Remaining Share Repurchase Authorization
$91 million
Time Charter Equivalent Rate (TCE)
$16,634 per vessel per day
Combined OpEx and Cash G&A per Vessel per Day
$6,421 per vessel per day
TCE less OpEx and Cash G&A
$10,213 per vessel per day
Operating Expenses per Vessel per Day
$5,096 per vessel per day
Net Cash G&A Expenses per Vessel per Day
$1,325 per vessel per day
Number of Vessels
145 vessels on a fully delivered basis
Average Fleet Age
11.9 years
Cash Balance at Beginning of Q3
$431 million
Cash Balance at End of Q3
$457 million
Cash Flow from Operating Activities
$92 million
Debt-Free Vessels Market Value
$336 million
Expected Dry Dock Expenses 2025
$20 million
Expected Dry Dock Expenses 2026
$47 million
Off-Hire Days Expected 2025
580 days
Off-Hire Days Expected 2026
1,140 days
Vessel Sales Proceeds Q3
$75.5 million
Vessel Sales Proceeds October
$25 million
Earnings Call Recording
Other Earnings Calls

Management

Mr. Petros Alexandros Pappas
Founder, CEO & Director
No Bio Available
Mr. Hamish Norton Ph.D.
President
No Bio Available
Mr. Simos Spyrou
Chief Financial Officer
No Bio Available
Mr. Nicos Rescos
Chief Operating Officer
No Bio Available
Mr. Zenon Kleopas
Executive Vice President of Green Energy & Technology
No Bio Available
Georgia Mastagaki
Co-General Counsel & Co-Secretary
No Bio Available
Ms. Charis Plakantonaki
Chief Strategy Officer
No Bio Available
Mr. Constantinos Simantiras
Head of Market Research
No Bio Available

Contacts

Address
ATTIKI
ATHINA
40, Agiou Konstantinou Str., Maroussi
Contacts
+302106178400.0
www.starbulk.com