Star Bulk Announces Changes to Its Board of Directors
30 Août 2023 - 10:05PM
Star Bulk Carriers Corp. (the “Company” or “Star Bulk”) (Nasdaq:
SBLK), a global shipping company focusing on the transportation of
dry bulk cargoes, announced today the appointment of Mr. Ryan Lee
to its Board of Directors as Class B Director and to the Nomination
and Corporate Governance Committee (“the Committee”). Mr. Lee fills
the seat made vacant by the resignation of Mr. Brian Laibow from
the Company’s Board of Directors who has resigned in order to
pursue other opportunities. Mr. Laibow was serving on the Company’s
Board and was a member of the Committee since January 2020. The
Company would like to thank Mr. Laibow for his commitment and
invaluable services and wishes him well in his future endeavors.
The newly appointed director, Mr. Ryan Lee, is a senior vice
president in Oaktree’s Global Opportunities group.
About Star BulkStar Bulk is a
global shipping company providing worldwide seaborne transportation
solutions in the dry bulk sector. Star Bulk’s vessels transport
major bulks, which include iron ore, minerals and grain, and minor
bulks, which include bauxite, fertilizers and steel products. Star
Bulk was incorporated in the Marshall Islands on December 13, 2006
and maintains executive offices in Athens, New York, Limassol,
Singapore and Germany. Its common stock trades on the Nasdaq Global
Select Market under the symbol “SBLK”. As of August 3, 2023 and as
adjusted for the delivery of agreed to be sold vessels to their new
owner, Star Bulk operates a fleet of 120 vessels, with an aggregate
capacity of 13.3 million dwt, consisting of 17 Newcastlemax, 20
Capesize, 2 Mini Capesize, 7 Post Panamax, 40 Kamsarmax, 2 Panamax,
20 Ultramax and 12 Supramax vessels with carrying capacities
between 52,425 dwt and 209,529 dwt.
Forward-Looking
StatementsMatters discussed in this press release may
constitute forward-looking statements. The Private Securities
Litigation Reform Act of 1995 provides safe harbor protections for
forward-looking statements in order to encourage companies to
provide prospective information about their business.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than
statements of historical facts.
We desire to take advantage of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995
and are including this cautionary statement in connection with this
safe harbor legislation. Words such as, but not limited to,
“believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,”
“targets,” “projects,” “likely,” “will,” “would,” “could,”
“should,” “may,” “forecasts,” “potential,” “continue,” “possible”
and similar expressions or phrases may identify forward-looking
statements.
The forward-looking statements in this press
release are based upon various assumptions, many of which are
based, in turn, upon further assumptions, including without
limitation, examination by our management of historical operating
trends, data contained in our records and other data available from
third parties. Although we believe that these assumptions were
reasonable when made, because these assumptions are inherently
subject to significant uncertainties and contingencies which are
difficult or impossible to predict and are beyond our control, we
cannot assure you that we will achieve or accomplish these
expectations, beliefs or projections. In addition to these
important factors, other important factors that, in our view, could
cause actual results to differ materially from those discussed in
the forward-looking statements include general dry bulk shipping
market conditions, including fluctuations in charter rates and
vessel values; the strength of world economies; the stability of
Europe and the Euro; fluctuations in currencies, interest rates and
foreign exchange rates, and the impact of the discontinuance of the
London Interbank Offered Rate for US Dollars, or LIBOR, after June
30, 2023 on any of our debt referencing LIBOR in the interest rate;
business disruptions due to natural disasters or other disasters
outside our control, such as the ongoing novel coronavirus
(“COVID-19”) pandemic (and variants that may emerge); the length
and severity of epidemics and pandemics, including COVID-19 and its
impact on the demand for seaborne transportation in the dry bulk
sector; changes in supply and demand in the dry bulk shipping
industry, including the market for our vessels and the number of
new buildings under construction; the potential for technological
innovation in the sector in which we operate and any corresponding
reduction in the value of our vessels or the charter income derived
therefrom; changes in our expenses, including bunker prices, dry
docking, crewing and insurance costs; changes in governmental rules
and regulations or actions taken by regulatory authorities;
potential liability from pending or future litigation and potential
costs due to environmental damage and vessel collisions; the impact
of increasing scrutiny and changing expectations from investors,
lenders, charterers and other market participants with respect to
our Environmental, Social and Governance (“ESG”) practices; our
ability to carry out our ESG initiatives and thereby meet our ESG
goals and targets; new environmental regulations and restrictions,
whether at a global level stipulated by the International Maritime
Organization, and/or regional/national level imposed by regional
authorities such as the European Union or individual countries;
potential cyber-attacks which may disrupt our business operations;
general domestic and international political conditions or events,
including “trade wars” and the ongoing conflict between Russia and
Ukraine; the impact on our common shares and reputation if our
vessels were to call on ports located in countries that are subject
to restrictions imposed by the U.S. or other governments; potential
physical disruption of shipping routes due to accidents,
climate-related reasons (acute and chronic), political events,
public health threats, international hostilities and instability,
piracy or acts by terrorists; the availability of financing and
refinancing; the failure of our contract counterparties to meet
their obligations; our ability to meet requirements for additional
capital and financing to grow our business; the impact of our
indebtedness and the compliance with the covenants included in our
debt agreements; vessel breakdowns and instances of off‐hire;
potential exposure or loss from investment in derivative
instruments; potential conflicts of interest involving our Chief
Executive Officer, his family and other members of our senior
management and our ability to complete acquisition transactions as
and when planned and upon the expected terms and the impact of port
or canal congestion or disruptions. Please see our filings with the
Securities and Exchange Commission for a more complete discussion
of these and other risks and uncertainties. The information set
forth herein speaks only as of the date hereof, and the Company
disclaims any intention or obligation to update any forward‐looking
statements as a result of developments occurring after the date of
this communication.
Contacts |
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Company: |
Investor Relations / Financial Media: |
Simos Spyrou, Christos BeglerisCo ‐ Chief Financial OfficersStar
Bulk Carriers Corp.c/o Star Bulk Management Inc.40 Ag. Konstantinou
Av.Maroussi 15124Athens,
GreeceEmail:info@starbulk.comwww.starbulk.com |
Nicolas BornozisPresidentCapital Link, Inc.230 Park Avenue, Suite
1536New York, NY 10169Tel. (212)
661‐7566E‐mail:starbulk@capitallink.comwww.capitallink.com |
Star Bulk Carriers (NASDAQ:SBLK)
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