Star Bulk Acquires 34 Vessels from Excel Maritime

International dry bulk shipping company Star Bulk announced Tuesday an agreement to acquire 34 vessels from recently bankrupt Excel Maritime Carriers. The agreement includes the acquisition of 6 Capesize vessels, 14 sistership Kamsarmax vessels, 12 Panamax vessels and 2 Handymax vessels for a purchase price of $288.39 in cash and an aggregate of 29.917 million shares of Star … [Read more...]

Oaktree Beats First-Quarter Estimates on Sales of Holdings

May 1 (Bloomberg) -- Oaktree Capital Group LLC, the world’s largest distressed-debt investor, posted first-quarter profit that beat analyst estimates after it earned more than expected from selling holdings. Adjusted net income, a measure of profit excluding costs such as noncash equity compensation and income taxes, decreased to $246.9 million, or $1.46 a share, from a … [Read more...]