Star Bulk ships out supramax

Nasdaq-listed Star Bulk Carriers is offloading one of its 23 supramaxes.

The Athens-based dry bulk giant revealed in its quarterly earnings report it had agreed to sell the 15-year-old Bittern.

The buyer and the price of the 57,800 dwt vessel, estimated by S&P sources at about $11.8m, have not been divulged.

Eagle Bulk Shipping, officially part of Star Bulk since last April, received the vessel as a newbuild from Yangzhou Dayang Shipbuilding in October 2009.

Once the ship changes hands during the second quarter, Petros Pappas-led Star Bulk will own 155 bulkers, including five kamsarmaxes under construction.