A landmark year in the history of Star Bulk Carriers was 2023, when the shipping company, led by Petros Pappas, achieved the deal of the year with the absorption of Eagle Bulk Shipping.
In his message to the shareholders of the Nasdaq-listed company, Pappas underlined that following the merger “we became the largest listed dry bulk company in the US, with a fleet of 162 vessels and the third largest dry bulk company in the world.”
Today the company has a fleet of 166 vessels, 16 million dwt and an average age of 10.9 years.
Despite the moderate global economic growth, Star Bulk continued to generate strong financial value. It distributed a total of 158.1 million dollars in dividends to shareholders, while remaining one of the most cost-competitive dry bulk carriers among similar companies.
“Our sixth annual ESG report, prepared in accordance with global standards, provides a comprehensive overview of our sustainability strategy, performance and targets. Under the guidance of our Board’s ESG Committee, we are implementing best practices that ensure Star Bulk’s business continuity,” Pappas noted, adding: “We were honored with the Sustainability Award at the Greek Shipping Awards 2023. We are making significant progress in our robust decarbonization strategy. We are systematically renewing our fleet, selling older, less energy-efficient vessels at the appropriate times.”
