Star Bulk Carriers Reports Modest Profit and Dividend

Star Bulk Carriers ( (SBLK) ) has released its Q1 earnings. Here is a breakdown of the information Star Bulk Carriers presented to its investors.

Star Bulk Carriers Corp. is a global shipping company specializing in the transportation of dry bulk cargoes, with a fleet that includes various vessel types such as Capesize, Kamsarmax, and Supramax. The company is headquartered in Athens, Greece, and trades on the Nasdaq under the symbol SBLK.

In its latest earnings report for the first quarter of 2025, Star Bulk Carriers announced a net profit of $0.5 million and declared a quarterly dividend of $0.05 per share. The company has also amended its dividend policy to ensure a minimum quarterly payout, reflecting its commitment to shareholder returns.

Key financial metrics from the report indicate a decrease in voyage revenues to $230.7 million from $259.4 million in the same quarter of the previous year, attributed to lower charter rates despite an increase in the average number of vessels. The Time Charter Equivalent (TCE) rate also saw a decline to $12,439 per day from $19,627 per day. The company reported an adjusted net loss of $7.7 million, and adjusted EBITDA was $49.0 million, down from $123.0 million in the prior year.

Strategically, Star Bulk Carriers has continued its share repurchase program, buying back approximately 1.3 million shares, and has sold several older vessels to streamline its fleet. The company maintains a strong liquidity position with over $500 million, positioning itself to capitalize on future market opportunities.

Looking ahead, Star Bulk Carriers remains optimistic about the medium to long-term prospects of the dry bulk market, supported by a favorable order book and regulatory measures aimed at reducing greenhouse gas emissions. The company plans to continue its focus on shareholder value through disciplined capital allocation and fleet optimization strategies.