Arne Blystad has indirectly reduced his shareholding in Star Bulk by selling a further 6.5% of his shareholding in Songa Bulk ASA for just over NOK 415,800 ($48,648).
Songa Bulk was merged into Star Bulk last year, but the company continues to exist today as the merged entity's fifth largest shareholder.
The 610,518 shares were sold on Wednesday by Blystad-controlled companies Songa Trading Inc, Songa Bulk Chartering and Agmably.
