A 20-year-old Star Bulk Carriers panamax that was once the target of a Houthi attack has reportedly scored what one shipbroker described as a strong price in a secondhand sale.
Brokers in the US and UK reported that the New York-listed shipowner has sold the 76,500-dwt Star Iris (built 2004) for $13.1m.
That is more than the estimates of $11.6m by VesselsValue and $12.5m by Maritime Strategies International’s MSI Horizon.
And it is above the $12m carrying value for the vessel in Star Bulk’s books at the end of last year, according to its annual report.
Executives could not be immediately reached for comment.
The ship, which was constructed at Japan’s Tsuneishi Shipbuilding and subsequently outfitted with a scrubber, passed a special survey in February, according to VesselsValue.
One broking house said the price of the transaction looks “strong”, but when the scrubber is factored in, it is slightly softer than the last deal for a similar ship.
The Star Iris was the target of a missile attack by the Houthi militant group in February.
TradeWinds reported that the incident did not cause serious damage and that Star Bulk asked its charterers to avoid the Suez Canal route.
The deal comes amid an active market for bulkers, with ample sales candidates on the market.
That led broker Hartland Shipping Services to say in its weekly report that sellers will struggle to find buyers for ships that have marginal specifications or conditions.
Star Bulk bought the Star Iris in 2014 as part of its $635m takeover of Excel Maritime Carriers.
VesselsValue estimates that the deal valued the ship at $17m at the time. Although its data shows that the value of the Star Iris dropped as low as $10.2m in January, prices for vessels of its characteristics have been rebounding since then.
The latest price tag represents the first time the ship was assessed at more than $13m since June 2023, according to VesselsValue and MSI.
