Supramax

Now offsetting this reduction in revenues are deliveries of 2 newbuilding dry bulk vessels in the third quarter: 1 Handysize vessel, which is chartered to the Hong Xiang Shipping group; and 1 Supramax, which is chartered to Glovis.

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Supramax are bulk carriers with 50,000-60,000 deadweight ton capacity.

India Iron Ore Prices Fall on Low China Demand Arpan Mukherjee 2011

Shipping rates of Supramax vessels have risen 10% to about $20/ton in the last two days, the Goa-based executive said.

India Iron Ore Prices Fall on Low China Demand Arpan Mukherjee 2011

The Company's current fleet consists of 20 drybulk carriers four Capesize, three Panamax, two Supramax, one Handymax and ten Handysize vessels with a total carrying capacity of approximately 1,295,594 dwt and an average fleet age of 13.5 years.

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The Company will also have the opportunity to benefit from a 50% profit sharing arrangement above the base rate under each charter, which will be calculated based on the adjusted Time Charter Average of the Baltic Supramax Index.

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The Star Theta is a Supramax vessel of 55,425 dwt built in 2003.

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Currently, Star Bulk's fleet consists of fifteen dry bulk carriers, including six Capesize vessels, eight Supramax vessels and definitive agreement for the construction of one Capesize vessel.

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DryShips owns a fleet of 35 drybulk carriers (including newbuildings), comprising 7 Capesize, 26 Panamax and 2 Supramax, with a combined deadweight tonnage of over 3.3 million tons, and 12 tankers (including newbuildings), comprising 6 Suezmax and 6 Aframax, with a combined deadweight tonnage of over 1.6 million tons.

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Currently, Star Bulk's fleet consists of fifteen dry bulk carriers, including seven Capesize vessels, eight Supramax vessels and definitive agreements for the construction of one Capesize vessel.

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On July 13, 2011, the Company announced that it had entered into a new time charter agreement for one of its Supramax vessels.

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