Star Bulk is about to sell a 17-year-old supramax bulker, one of the oldest vessels in its fleet.
TradeWinds understands the 52,100-dwt Star Kappa (built 2001) has been committed to Asian buyers at $6.2m or $6.3m, in a deal that has yet to be finalised.
The Sanoyas-built vessel has gone within a short space of time.
Star Bulk circulated it for sale last month, inviting inspections in the Far East at the end of January, according to broker reports at the time.
The price for the Star Kappa may represent a small reduction on what Star Bulk achieved for a 18-year-old supramax it sold late last year.
In November, Star Bulk shed the 52,400-dwt Star Delta (built 2000) to Middle Eastern interests. The Tsuneishi Fukyuama-built vessel, which has since been renamed Prince M, fetched up to $6.5m, according to brokers.
The Star Kappa is one of the New York Stock Exchange-listed company’s oldest ships, alongside the 52,400-dwt supramax Star Epsilon (built 2001) and 171,200-dwt capesize Star Aurora (built 2000).
Star Bulk has been shedding its oldest vessels for some time now. They no longer seem to fit with the company's large, modern fleet, which has swollen with younger vessels through the acquisition of the fleets of Augustea Group, ABYO Holdings and Songa Bulk.
Star Bulk has 108 vessels on the water with an average age of about eight years, according to its latest press release.
