Business
Star Bulk Provides Update for its Q4 2025 TCE and Coverage
ATHENS, Greece, Dec. 10, 2025 (GLOBE NEWSWIRE) -- Star Bulk Carriers Corp. (the "Company" or "Star Bulk") (Nasdaq: SBLK), today provided an update to its
About this update from Star Bulk Carriers Corp.
[{"type":"text","content":"ATHENS, Greece, Dec. 10, 2025 (GLOBE NEWSWIRE) -- Star Bulk Carriers Corp. (the \"Company\" or \"Star Bulk\") (Nasdaq: SBLK), today provided an update to its estimated time charter equivalent (“TCE”) rate for the fourth quarter of 2025. On a fleet-wide basis, the Company estimates its TCE rate for the fourth quarter of 2025 to be approximately $19,500 per day for approximately 93% of its owned available days for the quarter. On a per segment basis our TCE rate per day per main vessel category is expected as follows: Newcastlemax/Capesize we estimate the TCE rate to be approximately $27,600 per day for approximately 91% of its owned available days for the quarter.Post Panamax/Kamsarmax/Panamax we estimate the TCE rate to be approximately $16,400 per day for approximately 92% of its owned available days for the quarter.Ultramax/Supramax we estimate the TCE rate to be approximately $17,400 per day for approximately 94% of its owned available days for the quarter. Time charter equivalent (“TCE”) rate represents the weighted average daily TCE rates of our operating fleet (including owned fleet and charter-in vessels). TCE rate is a measure of the average daily net revenue performance of our operating fleet. Our method of calculating TCE rate is determined by dividing (a) TCE Revenues, which consists of Voyage Revenues net of voyage expenses, charter-in hire expense, amortization of fair value of above/below market acquired time charter agreements, if any, as well as adjusted for the impact of realized gain/(loss) on forward freight agreements (“FFAs”) and bunker swaps by (b) Available days for the relevant time period. Available days do not include the Charter-in days as per the relevant definitions provided above. Voyage expenses primarily consist of port, canal and fuel costs that are unique to a particular voyage, which would otherwise be paid by the charterer under a time charter contract, as well as commissions. In the calculation of TCE Revenues, we also include the realized gain/(loss) on FFAs and bunker swaps as we believe that this method better reflects the chartering result of our fleet and is more comparable to the method used by some of our peers. TCE Revenues and TCE rate, which are non-GAAP measures, provide additional meaningful information in conjunction with Voyage Revenues, the most directly comparable GAAP measure...