Star Bulk Carriers Corp.
starbulk.comWhat Do They Do?
Transports dry bulk commodities such as iron ore, grain and fertilizers in its ships for miners, utilities, and commodity and shipping companies.
20-F for FY2025, filed Mar 19, 2026
How Do They Make Money?
Charterers pay for the use of its vessels under time and voyage charters, and Star Bulk also earns pool revenue; it can collect voyage-charter payments before a voyage is complete.
20-F for FY2025, filed Mar 19, 2026The following table shows the voyage revenues earned from time charters, voyage charters and pool agreements for the years ended December…View ↗
Under ASC 606, unearned voyage charter revenue represents the consideration received for undelivered performance obligations. The Company…View ↗
The amounts included within “Pool revenues” in the table above refer to adjustment to the Company’s revenues from the vessels operating in…View ↗
$1B
-
20-F for FY2025, filed Mar 19, 2026
$1B ↗
Who Are Their Customers?
It charters vessels to iron ore miners and utilities, along with commodity trading and shipping companies.
20-F for FY2025, filed Mar 19, 2026We have well-established relationships with major dry bulk charterers, which we serve by carrying a variety of cargoes over a multitude of…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 8 cents of every revenue dollar as net income in FY2025 and turned 20 cents into free cash flow.
20-F for FY2025, filed Mar 19, 2026
$136.9MView ↗
20-F for FY2025, filed Mar 19, 2026
$84.2MView ↗
20-F for FY2025, filed Mar 19, 2026
$211.9MView ↗
How Are They Changing?
Shrinking. Revenue fell 27% in 4 years, from $1.4B in FY2021 to $1B in FY2025, about 8% a year.
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