A high profile dispute between Star Bulk and TMT over a cancelled capesize time charter has been settled for more than $24m.
Star Bulk receives a total of $24.3m as compensation for early termination of a 34 month time charter as well as for outstanding hire payments on the 151,000-dwt Star Ypsilon (built 1991).
It appears that Athens based but Nasdaq listed Star Bulk has secured most of what it claimed to be due over TMT’s repudiation of the deal less than a year into the charter.
