Star Bulk Carriers has great growth ambitions, hoping to shed its small-cap identity.
"We kind of aspire someday to be a mid-cap company," chief executive Petros Pappas said to Jefferies analyst Randy Giveans during a first-quarter earnings call.
Pappas was responding to Giveans' question as to whether the Greek drybulk carrier planned to grow its fleet beyond 108 ships.
Pappas then asked Giveans, "So what do you think a mid-cap company is worth?"
Giveans quickly answered by estimating $3bn in market capitalisation -- more than triple Star Bulk's stance at $883m.
