In my rough estimation, SBLK is conservatively worth twice what it is currently trading at.
I estimate the total value of all the ships is at least $370M (that is using an average of $30M/cape and $20M/supra), less total debt of $264M, plus cash on hand of $43M equals $149M. $149M that is currently trading at a $69M market cap (and that does not even include the value of the income stream for the current leases).
Unfortunately, the market does not use rationality when pricing a stock, and in the case of SBLK, it appears that someone is using the "uncertainty" to use fear and manipulation to drive the price down. I only hope that some "rational" investors find this stock before it is relegated to the pink sheets (or forced to reverse split, which might be worse than going being pink sheeted?).