Greek firm Star Bulk Carriers is set to acquire 16 vessels in an all - share deal from companies affiliated with Augustea Atlantica and York Capital Management . The agreement will see Star Bulk issue 10.5 million shares of common stock , 14.1 million of total shares after the sale , and assume a $ 310 m debt . The vessels will be acquired by a non-recourse fully-owned subsidiary of Star Bulk. The company will also take over operational management of the vessels , while technical management remains with an affiliate of Augustea Atlantic . The fleet includes two Mini / Capesizes , two mini capesizes , eight Post Panamax / Kamsarmax ships and an Ultramax vessel .
Greek firm Star Bulk Carriers is set to acquire 16 vessels in an all - share deal from companies affiliated with Augustea Atlantica and York Capital Management . The agreement will see Star Bulk issue 10.5 million shares of common stock , 14.1 million of total shares after the sale , and assume a $ 310 m debt . The company will also take over operational management of the vessels , while technical management remains with an affiliate of Augustea Atlantic . The fleet includes two Mini / Capesizes , two mini capesizes , eight Post Panamax / Kamsarmax ships and an Ultramax vessel .