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Star Bulk Carriers Corp. Message Board

  • RADNOC RADNOC Jan 10, 2012 12:21 PM Flag

    A faint odor

    On Dec. 20th Star Bulk experienced a large drop in stock price on major volume. On Jan. 9th we were informed of the Sigma issue. However, on Jan. 2nd partial payment was made from Pacific Bulk to SBLK towards the agreement indicating that the Sigma event took place some time before Jan. 2nd, holidays included. Was there something that the traders knew that we didn't??? Why weren't we kept abreast of these issues in a timely manner? ALSO---Sigma at some time was conveniently "voyage chartered" for more than twice spot (current) at a price that just about matched the daily shortfall for that period. So a 21 year old cape was chartered for about three months at a rate that just makes up the shortfall against the old contract and adjusted daily settlement price, which softens the blow of the news for a period of time. This charter was with "A MAJOR CAPE OPERATOR." What's the big secret here? Who is it? Also note Star Big and Star Mega were contracted to "A MAJOR MINING COMPANY." Again, what's the big secret as it seems the deal on those ships may be somewhat questionable? I feel that SBLK made a good deal, as good a deal as they could, on the Sigma issue. I just think that something seems questionable. Food for thought. Do your own research. Make up your own mind. GLTA.

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    • I BELIEVE YOU HAVE identified why the drop below a dollar, indeed someone knew about the sigma and the revenue implication to sblk.
      so now we have the agrred terms to terminate the charter, is this a bullish development for starbulk, it is now selling for ship salvage value and the down risk is .95 and the elimination of div, that is the scenarion each investor small and big has to weigh. as you say glta, but im buying

    • I BELIEVE YOU HAVE identified why the drop below a dollar, indeed someone knew about the sigma and the revenue implication to sblk.
      so now we have the agrred terms to terminate the charter, is this a bullish development for starbulk, it is now selling for ship salvage value and the down risk is .95 and the elimination of div, that is the scenarion each investor small and big has to weigh. as you say glta, but im buying

      • 1 Reply to kenwoody13
      • You go for it Kenwoody13! I am rooting for you. Buy as much as you can, because like you said in previous posts, they are probably going to be raising the dividend from .05 to .06. I however, think they will split 5 for 1 and keep the dividend at .05. Time will tell. I will humbly give you accolades if you are right, but I am not holding my breath. The BDI is like a negatively inverted dive bomber below pull out altitude. Might as well just put it into the deck.

 
SBLK
14.30-0.70(-4.67%)Sep 12 4:00 PMEDT

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