Star Bulk Carriers plans to sell and lease back 16 ships by next month in exchange for $274m from four different buyers to refinance loan and lease agreements tied to the vessels.
The Petros Pappas-led owner of 116 bulkers announced the decision on Thursday as part of its second-quarter earnings report, after signing commitment letters in July.
Athens-based Star Bulk has signed a sale and leaseback agreement for three undisclosed newcastlemaxes in a $92.6m
