XML 24 R9.htm IDEA: XBRL DOCUMENT
v3.21.1

Basis of Presentation and General Information: | 12 Months Ended
--- | ---
Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Basis of Presentation and General Information: | 1. Basis of Presentation and General Information: The consolidated financial statements as of December 31, 2019 and 2020 and for the years ended December 31, 2018, 2019 and 2020, include the accounts of Star Bulk Carriers Corp. (“Star Bulk”) and its wholly owned subsidiaries as set forth below (collectively, the “Company”). Star Bulk was incorporated on December 13, 2006 under the laws of the Marshall Islands and maintains offices in Athens, Oslo, New York, Limassol, and Singapore. The Company is engaged in the ocean transportation of dry bulk cargoes worldwide through the ownership and operation of dry bulk carrier vessels. Since December 3, 2007, Star Bulk shares trade on the NASDAQ Global Select Market under the ticker symbol “SBLK” (primary listing). Following, and in connection with, the Songa Vessel Purchase Transaction, as defined below in Note 3, Star Bulk’s common shares also traded on the Oslo Stock Exchange (“OSE”) (secondary listing) under the same ticker. On June 4, 2020 the OSE granted the Company’s request for delisting its common shares from the OSE. The Company’s common shares were delisted from the OSE on August 3, 2020. On March 11, 2020, the World Health Organization declared the 2019 Novel Coronavirus (the “Covid-19”) outbreak a pandemic. In response to the outbreak, many countries, ports and organizations, including those where the Company conducts a large part of its operations, have implemented measures to combat the outbreak, such as quarantines and travel restrictions. These measures have resulted in a significant reduction in global economic activity and extreme volatility in the global financial markets. There continues to be a high level of uncertainty relating to how the pandemic will evolve, including the availability of vaccines and their global deployment, the development of effective treatments, the imposition of effective public safety and other protective measures and the public's and government's responses to such measures. At present, it is not possible to ascertain any future impact of Covid-19 on the Company’s operational and financial performance, which may take some time to materialize and may not be fully reflected in the Company’s results for 2020. However, an increase in the severity or duration or a resurgence of the Covid-19 pandemic and the timing of wide-scale vaccine distribution could have a material adverse effect on the Company’s business, results of operations, cash flows, financial condition, the carrying value of the Company’s assets, the fair values of the Company’s vessels, and the Company’s ability to pay dividends. As of December 31, 2020, the Company owned a modern fleet of 116 dry bulk vessels consisting of Newcastlemax, Capesize, Post Panamax, Kamsarmax, Panamax, Ultramax and Supramax vessels with a carrying capacity between 52,425 deadweight tonnage (“dwt”) and 209,537 dwt, and a combined carrying capacity of 12.9 million dwt. In addition, through certain of its subsidiaries, the Company charters-in a number of third-party vessels on a short- to medium- term basis (not exceeding one year) to increase its operating capacity in order to satisfy its clients’ needs. F-10 STAR BULK CARRIERS CORP. Notes to Consolidated Financial Statements December 31, 2020 (Expressed in thousands of U.S. dollars except for share and per share data unless otherwise stated) Below is the list of the Company’s wholly owned subsidiaries as of December 31, 2020: Subsidiaries owning vessels in operation at December 31, 2020: Basis of Presentation and General information - List of subsidiaries (Table)
|  |  |  | Date |
| Wholly Owned Subsidiaries | Vessel Name | DWT | Delivered to Star Bulk | Year Built
1 | Sea Diamond Shipping LLC | Goliath (1) | 209,537 | July 15, 2015 | 2015
2 | Pearl Shiptrade LLC | Gargantua (1) | 209,529 | April 2, 2015 | 2015
3 | Star Ennea LLC | Star Gina 2GR | 209,475 | February 26, 2016 | 2016
4 | Coral Cape Shipping LLC | Maharaj (1) | 209,472 | July 15, 2015 | 2015
5 | Star Castle II LLC | Star Leo | 207,939 | May 14, 2018 | 2018
6 | ABY Eleven Ltd | Star Laetitia | 207,896 | August 3, 2018 | 2017
7 | Domus Shipping LLC | Star Ariadne | 207,812 | March 28, 2017 | 2017
8 | Star Breezer LLC | Star Virgo | 207,810 | March 1, 2017 | 2017
9 | Star Seeker LLC | Star Libra (1) | 207,765 | June 6, 2016 | 2016
10 | ABY Nine Ltd | Star Sienna | 207,721 | August 3, 2018 | 2017
11 | Clearwater Shipping LLC | Star Marisa | 207,709 | March 11 2016 | 2016
12 | ABY Ten Ltd | Star Karlie | 207,566 | August 3, 2018 | 2016
13 | Star Castle I LLC | Star Eleni | 207,555 | January 3, 2018 | 2018
14 | Festive Shipping LLC | Star Magnanimus | 207,490 | March 26, 2018 | 2018
15 | New Era II Shipping LLC | Debbie H | 206,861 | May 28, 2019 | 2019
16 | New Era III Shipping LLC | Star Ayesha | 206,852 | July 15, 2019 | 2019
17 | New Era I Shipping LLC | Katie K | 206,839 | April 16, 2019 | 2019
18 | Cape Ocean Maritime LLC | Leviathan | 182,511 | September 19, 2014 | 2014
19 | Cape Horizon Shipping LLC | Peloreus | 182,496 | July 22, 2014 | 2014
20 | Star Nor I LLC | Star Claudine | 181,258 | July 6, 2018 | 2011
21 | Star Nor II LLC | Star Ophelia | 180,716 | July 6, 2018 | 2010
22 | Christine Shipco LLC | Star Martha | 180,274 | October 31, 2014 | 2010
23 | Sandra Shipco LLC | Star Pauline | 180,233 | December 29, 2014 | 2008
24 | Pacific Cape Shipping LLC | Pantagruel | 180,181 | July 11, 2014 | 2004
25 | Star Borealis LLC | Star Borealis | 179,678 | September 9, 2011 | 2011
26 | Star Polaris LLC | Star Polaris | 179,546 | November 14, 2011 | 2011
27 | Star Nor III LLC | Star Lyra | 179,147 | July 6, 2018 | 2009
28 | Star Regg II LLC | Star Janni | 178,978 | January 7, 2019 | 2010
29 | Star Regg I LLC | Star Marianne | 178,906 | January 14, 2019 | 2010
30 | Star Trident V LLC | Star Angie | 177,931 | October 29, 2014 | 2007
31 | Sky Cape Shipping LLC | Big Fish | 177,662 | July 11, 2014 | 2004
32 | Global Cape Shipping LLC | Kymopolia | 176,990 | July 11, 2014 | 2006
33 | Star Trident XXV Ltd. | Star Triumph | 176,343 | December 8, 2017 | 2004
34 | ABY Fourteen Ltd | Star Scarlett | 175,800 | August 3, 2018 | 2014
35 | ABY Fifteen Ltd | Star Audrey | 175,125 | August 3, 2018 | 2011
36 | Sea Cape Shipping LLC | Big Bang | 174,109 | July 11, 2014 | 2007
37 | ABY I LLC | Star Paola | 115,259 | August 3, 2018 | 2011
38 | ABM One Ltd | Star Eva | 106,659 | August 3, 2018 | 2012
39 | Nautical Shipping LLC | Amami | 98,681 | July 11, 2014 | 2011
40 | Majestic Shipping LLC | Madredeus | 98,681 | July 11, 2014 | 2011
41 | Star Sirius LLC | Star Sirius (1) | 98,681 | March 7, 2014 | 2011
42 | Star Vega LLC | Star Vega (1) | 98,681 | February 13, 2014 | 2011
43 | ABY II LLC | Star Aphrodite | 92,006 | August 3, 2018 | 2011
44 | Augustea Bulk Carrier Ltd | Star Piera | 91,952 | August 3, 2018 | 2010
45 | Augustea Bulk Carrier Ltd | Star Despoina | 91,945 | August 3, 2018 | 2010
46 | Star Nor IV LLC | Star Electra | 83,494 | July 6, 2018 | 2011
47 | Star Alta I LLC | Star Angelina | 82,981 | December 5, 2014 | 2006
48 | Star Alta II LLC | Star Gwyneth | 82,790 | December 5, 2014 | 2006
49 | Star Trident I LLC | Star Kamila | 82,769 | September 3, 2014 | 2005
50 | Star Nor VI LLC | Star Luna | 82,687 | July 6, 2018 | 2008
51 | Star Nor V LLC | Star Bianca | 82,672 | July 6, 2018 | 2008
52 | Grain Shipping LLC | Pendulum | 82,619 | July 11, 2014 | 2006
53 | Star Trident XIX LLC | Star Maria | 82,598 | November 5, 2014 | 2007
54 | Star Trident XII LLC | Star Markella | 82,594 | September 29, 2014 | 2007
55 | Star Trident IX LLC | Star Danai | 82,574 | October 21, 2014 | 2006
56 | ABY Seven Ltd | Star Jeanette | 82,567 | August 3, 2018 | 2014
57 | Star Trident XI LLC | Star Georgia | 82,298 | October 14, 2014 | 2006
58 | Star Trident VIII LLC | Star Sophia | 82,269 | October 31, 2014 | 2007
59 | Star Trident XVI LLC | Star Mariella | 82,266 | September 19, 2014 | 2006
60 | Star Trident XIV LLC | Star Moira | 82,257 | November 19, 2014 | 2006
61 | Star Trident XVIII LLC | Star Nina | 82,224 | January 5, 2015 | 2006
62 | Star Trident X LLC | Star Renee | 82,221 | December 18, 2014 | 2006
63 | Star Trident II LLC | Star Nasia | 82,220 | August 29, 2014 | 2006
64 | Star Trident XIII LLC | Star Laura | 82,209 | December 8, 2014 | 2006
65 | Star Trident XV LLC | Star Jennifer | 82,209 | April 15, 2015 | 2006
66 | Star Nor VIII LLC | Star Mona | 82,188 | July 6, 2018 | 2012
67 | Star Trident XVII LLC | Star Helena | 82,187 | December 29, 2014 | 2006
68 | Star Nor VII LLC | Star Astrid | 82,158 | July 6, 2018 | 2012
69 | Waterfront Two Ltd | Star Alessia | 81,944 | August 3, 2018 | 2017
70 | Star Nor IX LLC | Star Calypso | 81,918 | July 6, 2018 | 2014
71 | Star Gaia LLC | Star Charis | 81,711 | March 22, 2017 | 2013
72 | Star Elpis LLC | Star Suzanna | 81,711 | May 15, 2017 | 2013
73 | Mineral Shipping LLC | Mercurial Virgo | 81,545 | July 11, 2014 | 2013
74 | Star Nor X LLC | Stardust | 81,502 | July 6, 2018 | 2011
75 | Star Nor XI LLC | Star Sky | 81,466 | July 6, 2018 | 2010
76 | ABY III LLC | Star Lydia | 81,187 | August 3, 2018 | 2013
77 | ABY IV LLC | Star Nicole | 81,120 | August 3, 2018 | 2013
78 | ABY Three Ltd | Star Virginia | 81,061 | August 3, 2018 | 2015
79 | Star Nor XII LLC | Star Genesis | 80,705 | July 6, 2018 | 2010
80 | Star Nor XIII LLC | Star Flame | 80,448 | July 6, 2018 | 2011
81 | Star Trident III LLC | Star Iris | 76,466 | September 8, 2014 | 2004
82 | Star Trident XX LLC | Star Emily | 76,417 | September 16, 2014 | 2004
83 | Orion Maritime LLC | Idee Fixe (1) | 63,458 | March 25, 2015 | 2015
84 | Primavera Shipping LLC | Roberta (1) | 63,426 | March 31, 2015 | 2015
85 | Success Maritime LLC | Laura (1) | 63,399 | April 7, 2015 | 2015
86 | Ultra Shipping LLC | Kaley (1) | 63,283 | June 26, 2015 | 2015
87 | Blooming Navigation LLC | Kennadi (1) | 63,262 | January 8, 2016 | 2016
88 | Jasmine Shipping LLC | Mackenzie (1) | 63,226 | March 2, 2016 | 2016
89 | STAR LIDA I SHIPPING LLC | Star Apus (1) | 63,123 | July 16, 2019 | 2014
90 | Star Nor XV LLC | Star Wave | 61,491 | July 6, 2018 | 2017
91 | Star Challenger I LLC | Star Challenger (1) | 61,462 | December 12, 2013 | 2012
92 | Star Challenger II LLC | Star Fighter (1) | 61,455 | December 30, 2013 | 2013
93 | Star Axe II LLC | Star Lutas (1) | 61,347 | January 6, 2016 | 2016
94 | Aurelia Shipping LLC | Honey Badger (1) | 61,320 | February 27, 2015 | 2015
95 | Rainbow Maritime LLC | Wolverine (1) | 61,292 | February 27, 2015 | 2015
96 | Star Axe I LLC | Star Antares (1) | 61,258 | October 9, 2015 | 2015
97 | ABY Five Ltd | Star Monica | 60,935 | August 3, 2018 | 2015
98 | Star Asia I LLC | Star Aquarius | 60,916 | July 22, 2015 | 2015
99 | Star Asia II LLC | Star Pisces (1) | 60,916 | August 7, 2015 | 2015
100 | Star Nor XIV LLC | Star Glory | 58,680 | July 6, 2018 | 2012
101 | STAR LIDA XI SHIPPING LLC | Star Pyxis (1) | 56,615 | August 19, 2019 | 2013
102 | STAR LIDA VIII SHIPPING LLC | Star Hydrus (1) | 56,604 | August 8, 2019 | 2013
103 | STAR LIDA IX SHIPPING LLC | Star Cleo (1) | 56,582 | July 15, 2019 | 2013
104 | Star Trident VII LLC | Diva (1) | 56,582 | July 24, 2017 | 2011
105 | STAR LIDA VI SHIPPING LLC | Star Centaurus (1) | 56,559 | September 18, 2019 | 2012
106 | STAR LIDA VII SHIPPING LLC | Star Hercules (1) | 56,545 | July 16, 2019 | 2012
107 | STAR LIDA X SHIPPING LLC | Star Pegasus (1) | 56,540 | July 15, 2019 | 2013
108 | STAR LIDA III SHIPPING LLC | Star Cepheus (1) | 56,539 | July 16, 2019 | 2012
109 | STAR LIDA IV SHIPPING LLC | Star Columba (1) | 56,530 | July 23, 2019 | 2012
110 | STAR LIDA V SHIPPING LLC | Star Dorado (1) | 56,507 | July 16, 2019 | 2013
111 | STAR LIDA II SHIPPING LLC | Star Aquila (1) | 56,506 | July 15, 2019 | 2012
112 | Star Regg III LLC | Star Bright | 55,783 | October 10, 2018 | 2010
113 | Glory Supra Shipping LLC | Strange Attractor | 55,742 | July 11, 2014 | 2006
114 | Star Omicron LLC | Star Omicron | 53,489 | April 17, 2008 | 2005
115 | Star Zeta LLC | Star Zeta | 52,994 | January 2, 2008 | 2003
116 | Star Theta LLC | Star Theta | 52,425 | December 6, 2007 | 2003
|  | Total dwt | 12,859,300 |  |
(1) |  | Subject to sale and lease back financing transaction (Note 7)
F-11 STAR BULK CARRIERS CORP. Notes to Consolidated Financial Statements December 31, 2020 (Expressed in thousands of U.S. dollars except for share and per share data unless otherwise stated) Non-vessel owning subsidiaries at December 31, 2020: (the below list includes companies previously owning vessels that have been sold, intermediate holding companies, companies that charter-in vessels and management companies): List of Non-vessel owning subsidiaries
| Wholly Owned Subsidiaries |  |
1 | Star Bulk Management Inc. | 29 | Star ABY LLC
2 | Starbulk S.A. | 30 | ABY Group Holding Ltd
3 | Star Bulk Manning LLC | 31 | Star Regina LLC
4 | Star Bulk Shipmanagement Company (Cyprus) Limited | 32 | Star Logistics Management S.A. (1)
5 | Candia Shipping Limited (ex Optima Shipping Limited) | 33 | Gravity Shipping LLC
6 | Star Omas LLC | 34 | White Sand Shipping LLC
7 | Star Synergy LLC | 35 | Star Regg IV LLC
8 | Oceanbulk Shipping LLC | 36 | Star Cosmo LLC
9 | Oceanbulk Carriers LLC | 37 | Cape Confidence Shipping LLC
10 | International Holdings LLC | 38 | Cape Runner Shipping LLC
11 | Star Ventures LLC | 39 | Star Bulk (Singapore) Pte. Ltd
12 | Star Logistics LLC (ex Dry Ventures LLC) | 40 | Star Bulk Germany GmbH
13 | Unity Holding LLC | 41 | Star Mare LLC
14 | Star Bulk (USA) LLC | 42 | Star Sege Ltd
15 | Star Bulk Norway AS | 43 | Star Regg VII LLC
16 | Star New Era LLC | 44 | Star Delta LLC
17 | Star Thor LLC | 45 | Searay Maritime LLC
18 | Star Gamma LLC | 46 | Star Kappa LLC
19 | Star Aurora LLC | 47 | Star Trident VI LLC
20 | Star Epsilon LLC | 48 | Star Uranus LLC
21 | Star Trident IV LLC | 49 | Star Regg V LLC
22 | Star Trident XXXI LLC | 50 | Star Regg VI LLC
23 | Star Trident XXI LLC | 51 | Dioriga Shipping Co.
24 | Star Trident XXII LLC | 52 | Positive Shipping Company
25 | Star Trident XXIII LLC | 53 | Star Trident XXVIII LLC
26 | Star Trident XXIV LLC | 54 | Star Trident XXIX LLC
27 | Star Trident XXVI LLC | 55 | Star Trident XXX LLC
28 | Star Trident XXVII LLC |  |
(1) Under liquidation. F-12 STAR BULK CARRIERS CORP. Notes to Consolidated Financial Statements December 31, 2020 (Expressed in thousands of U.S. dollars except for share and per share data unless otherwise stated) Charterers who individually accounted for more than 10% of the Company’s voyage revenues during the years ended December 31, 2018, 2019 and 2020 are as follows: Basis of Presentation and General Information - Charter Revenue Percentage (Table)
Charterer | 2018 | 2019 | 2020
A | N/A | N/A | 11%
B | 15% | 13% | N/A
The outstanding accounts receivable balance as at December 31, 2020 of this charterer (A) was $2,526.

X
- Definition The entire disclosure for the business description and basis of presentation concepts. Business description describes the nature and type of organization including but not limited to organizational structure as may be applicable to holding companies, parent and subsidiary relationships, business divisions, business units, business segments, affiliates and information about significant ownership of the reporting entity. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -URI http://asc.fasb.org/topic&trid=2122369 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -URI http://asc.fasb.org/topic&trid=2122149 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -URI http://asc.fasb.org/topic&trid=2134479 + Details
Name: | us-gaap_BusinessDescriptionAndBasisOfPresentationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration