Star Bulk Carriers announced plans to buy an additional 10 M shares of its stock from Oaktree Capital Management XL Holdings for $19.50/sh
This is the second such buyback transaction with the counterparty. Although SBLK had an impressive cash balance at the mid-point of 2023, I think a couple of things happen in the near term.
a. The company takes on more debt, or
b. The company sells additional vessels to either add cash to its books, and/or reduce its existing debt.
As noted in another SBLK-related thread, the company does have more than a couple of older Panamax category (primarily Kamsarmax) vessels. These might be good recycle candidates, especially as the screw tightens on EEXI/CII standards.