Star Bulk Carriers Corp. concluded the second quarter of 2026 with a net profit of $144.9 million, marking the company’s best quarterly performance since the second quarter of 2022. The dry bulk shipping operator also announced a quarterly dividend of $0.90 per share. These strong financial results reflect the continued favorable conditions in the dry bulk shipping market.
Star Bulk Carriers generated EBITDA of $194.8 million, with an average daily Time Charter Equivalent (TCE) rate of $24,486 per vessel. Petros Pappas, CEO of Star Bulk Carriers, noted that the company successfully capitalized on positive dry bulk market dynamics to achieve strong financial results during the second quarter.
At the same time, Star Bulk remains focused on cost control and enhancing fleet efficiency. Average daily operating expenses for the second quarter stood at $5,265 per vessel, while net cash flow related to general and administrative expenses amounted to $1,362 per vessel per day. The company views cost management as a key element of its strategy for maintaining financial resilience amidst fluctuations in the dry bulk shipping market.
