Danaos swells position in Star Bulk

Greek owner Danaos has increased its holding in compatriot dry bulk giant Star Bulk Carriers.

A recent filing to the US Securities and Exchange Commission (SEC) revealed that the John Coustas-led boxship tonnage provider and capsize bulker player had picked up around 2.03m shares in the Nasdaq-listed Star Bulk.

The move takes Danaos’ holding to around 6.13m shares, corresponding to 5.23 % of the Petros Pappas-led company.

Danaos stayed on as a Star Bulk shareholder through a legacy ownership in Eagle Bulk, following the merger in April 2024 and the creation of the largest US-listed dry bulk owner, controlling a fleet of over 150 vessels from newcastlemax to supramax classes.

In March this year, shipping tycoon John Fredriksen also picked up a 10.7% stake in Star Bulk after his exit from another one of Europe’s largest dry bulk owners, Golden Ocean. His ownership in Star Bulk has since increased to 11.4%.