Star Bulk Carriers (SBLK) Company Report

Star Bulk Carriers Corp. reported a net income of $18.5 million and diluted earnings per share of $0.16 for the third quarter of 2025, compared to $81.3 million and $0.69, respectively, in the third quarter of 2024.
Voyage revenues decreased to $263.9 million in Q3 2025 from $344.3 million in Q3 2024, with the Daily Time Charter Equivalent (TCE) Rate declining to $16,634 from $18,843, mainly due to a decrease in the average number of vessels and weaker charter rates.
The company declared a quarterly cash dividend of $0.11 per share for Q3 2025 and has repurchased approximately $82.1 million worth of shares year-to-date, with $91.4 million remaining under its share repurchase program.
As part of its fleet renewal strategy, Star Bulk agreed to acquire three Kamsarmax newbuilding resales in October 2025 for Q3 2026 delivery, while also selling several vessels in Q3 and October 2025.
Despite near-term uncertainties from geopolitical tensions, management believes medium-term dry bulk market fundamentals are robust due to increasing renewal needs and restricted fleet growth.

Nov 26, 2025, 9:07 PM

Star Bulk Carriers Announces Q3 2025 Financial Results and Dividend

SBLK

Earnings

Dividends

Share Buyback

Star Bulk Carriers reported net income of $18.5 million and adjusted net income of $32.4 million, or $0.16 adjusted income per share, for Q3 2025, with adjusted EBITDA of $87 million.
The company declared a dividend per share of $0.11 for Q3 2025, payable by December 18, 2025. They also repurchased 250,000 shares for $4.4 million during Q3 2025, and an additional 360,000 shares for $6.7 million from the beginning of Q4 until November 19, 2025.
For Q3 2025, the time-charter equivalent (TCE) rate was $16,634 per vessel per day, with combined daily OPEX and net CAS G&A expenses at $6,421 per vessel per day.
As of November 19, 2025, total cash was $454 million and total debt was $1.028 billion, resulting in pro forma liquidity exceeding $570 million.
The company is expanding its fleet with three new 82,000 DWT Kamsarmax newbuildings for Q3 2026 delivery and five Kamsarmax newbuildings expected for Q3/Q4 2026 delivery. During Q3 2025, Star Bulk sold six Kamsarmax and Supramax vessels for $75.5 million.

Nov 19, 2025, 4:00 PM

Star Bulk Reports Q3 2025 Financial and Operational Results

SBLK

Earnings

Dividends

Share Buyback

Star Bulk reported Net Income of $18.5 million and Adjusted Net Income of $32.4 million for Q3 2025, with an Adjusted EBITDA of $87 million.
The company declared a dividend of $0.11 per share for Q3 2025 and repurchased approximately 250,000 SBLK shares for $4.4 million during the quarter.
As of November 14th, 2025, Star Bulk held ~$454 million in cash and had proforma debt and lease obligations of $1,028 million.
For Q3 2025, the company's daily figures included a TCE per vessel of $16,634, average daily OPEX per vessel of $5,096, and average daily net cash G&A expenses per vessel of $1,325.
Star Bulk's fleet comprises 145 vessels with an average age of ~11.9 years, and the company entered into agreements for three newbuilding Kamsarmax vessels to be delivered in Q3 2026.

Nov 19, 2025, 4:00 PM

Star Bulk Carriers Reports Q3 2025 Financial Results and Declares Dividend

SBLK

Earnings

Dividends

Share Buyback

Star Bulk Carriers reported adjusted net income of $32.4 million and adjusted income per share of $0.16 for Q3 2025, with Adjusted EBITDA reaching $87 million.
The company declared a dividend per share of $0.11 for Q3 2025 and continued its share repurchase program, buying back 250,000 shares for $4.4 million in Q3 and an additional 360,000 shares for $6.7 million into Q4.
As of Q3 2025, total cash stood at $454 million and total debt at $1.028 billion, with pro forma liquidity exceeding $570 million. The time-charter equivalent rate for the quarter was $16,634 per vessel per day.
Star Bulk sold six Kamsarmax and Supramax vessels for $75.5 million in Q3 2025, while also securing three new 82,000 deadweight Kamsarmax newbuildings for Q3 2026 delivery to renew its fleet.

Nov 19, 2025, 4:00 PM

Star Bulk Carriers Reports Q3 2025 Financial Results and Fleet Updates

SBLK

Earnings

Dividends

Share Buyback

Star Bulk Carriers reported net income of $18.5 million and adjusted net income of $32.4 million, or $0.16 adjusted income per share, for the third quarter of 2025, with Adjusted EBITDA of $87 million.
The company declared a dividend per share of $0.11 for Q3 2025 and repurchased 250,000 shares for $4.4 million during the quarter, with $91 million remaining in its share repurchase program.
As of the document date, total cash stood at $454 million and total debt at $1.028 billion, resulting in pro forma liquidity of more than $570 million including undrawn facilities.
Star Bulk is actively managing its fleet, having sold six Kamsarmax and Supramax vessels for $75.5 million in Q3 and securing eight Kamsarmax newbuildings for delivery in 2026.
The dry bulk market experienced a 5.1% year-over-year increase in trade volumes during Q3, with total dry bulk trade projected to expand by 1.4% in ton miles for 2025 and 2.1% for 2026.