The seller in Norden of Denmark’s recent purchase of two capesize bulkers has emerged as giant public owner Star Bulk Carriers of Greece.

Market sources said on Friday that Norden has acquired the 179,500-dwt sister vessels Star Polaris and Star Borealis (both built 2011) for $32.5m each.

As TradeWinds reported on Wednesday, Norden has acknowledged doubling the size of its capesize contingent with two acquisitions in the secondhand market, but the Danish operator did not disclose any details about the new vessels.

Both Star Bulk ships were constructed at Hyundai Heavy Industries’ Subic Bay yard in the Philippines.

This is the same builder of the two existing capesizes in the Norden fleet, which were purchased earlier in March from GoodBulk as the 179,000-dwt Aquatonka and Aquahaha (both built 2012).

Brokers reported at the time that those vessels went for $28m each.

Valuation platform VesselsValue estimates Star Borealis is worth $29.5m and Star Polaris worth $29.9m.

Even after the sale, Star Bulk owns 22 capesizes among an overall fleet of 126, making it one of the biggest public fleets in the world.

Earlier in March, Norden chief executive Jan Rindbo told TradeWinds that Norden hopes to control up to 25 capesizes, but will build up its fleet gradually.

As well as being an owner of capesizes, Norden will also develop an “asset-light” side of the business and is actively recruiting a team of people to oversee its nascent operated fleet.

“The idea here is, of course, that we will serve some of our existing customers, especially within the mining industry,” Rindbo said.

“We also have our logistics projects, where we actually see capes playing an important role, because in many of the logistics projects that we’re working on with our customers, there is actually a capesize element where customers want to upsize because of the freight and emission savings you get from larger vessels.”

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Norden has been involved in the capesize segment previously but divested its last vessel in 2016.

“With the move into capesize, Norden expands its offering to cover all dry cargo sizes, providing added value to our customers and partners globally,” Jan Rindbo said in a release on Wednesday.

“The expansion into capesize also enables us to capitalise on the most attractive market opportunities in a high exposure segment with relatively few transactions.”

The two Star disposals rank in the middle of age profile for capesize vessels in its fleet, with newest vessels built in 2014 and oldest in 2004.