Star Bulk Carriers Corp   (SBLK)
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Star Bulk Carriers 's



SBLK Sales vs. its Competitors Q4 2020

Comparing the results to its competitors, Star Bulk Carriers reported Total Revenue decrease in the 4 quarter 2020 year on year by -15.6 %, despite revenue increase by most of its competitors of 12.21 %, recorded in the same quarter.

List of SBLK Competitors

With net margin of 1.39 % company achieved higher profitability than its competitors.

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Revenue Growth Comparisons

Net Income Comparison

Star Bulk Carriers Corp achieved net profit of $10 millions compare to net loss of $-16 millions recorded in same quarter a year ago.

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Star Bulk Carriers 's Comment on Competitors and Industry Peers

Demand for dry bulk carriers fluctuates in line with the main patterns of trade of the major dry bulk cargoes and varies according to changes in the supply and demand for these items. We compete with other owners of dry bulk carriers in the Newcastlemax, Capesize, Post Panamax (including the Kamsarmax subcategory), Ultramax and Supramax (including the Handymax subcategory) size sectors. Ownership of dry bulk carriers is highly fragmented and is divided among approximately 1,700 independent dry bulk carrier owners. We compete for charters on the basis of price, vessel location, size, age and condition of the vessel, as well as on our reputation as an owner and operator.

We believe that we possess a number of strengths that provide us with a competitive advantage in the dry bulk shipping industry:

We own a modern, diverse, high quality fleet of dry bulk carrier vessels. Our fleet consists of 72 vessels currently in the water, while we have ten high specification, fuel efficient, Eco-type vessels, on order at quality shipyards in China and Japan. We believe that owning a modern, high quality fleet reduces operating costs, improves safety and provides us with a competitive advantage in securing favorable time charters. We maintain the quality of our vessels by carrying out regular inspections, both while in port and at sea, and adopting a comprehensive maintenance program for each vessel. Furthermore we take a proactive approach to safety and environmental protection through comprehensively planned maintenance systems, preventive maintenance programs and by retaining and training qualified crews.

We benefit from strong relationships with members of the shipping and financial industries. Our Chief Executive Officer, directors and management team have established relationships with leading charterers as well as chartering, sales and purchase brokerage houses around the world. Our Chief Executive Officer, directors and management team have maintained relationships with, and have achieved acceptance by, major governmental and private industrial users, commodity producers and traders.

We have an experienced management team and board of directors. Our management team and our board of directors, collectively, have more than 130 years shipping experience during which they have developed strong industry relationships with leading charterers, financial institutions, shipyards, insurance underwriters, protection and indemnity associations.

We conduct a significant portion of the commercial and technical management of our vessels in-house through our wholly owned subsidiaries, Star Bulk Management Inc., Star Bulk Shipmanagement Company (Cyprus) Limited and Starbulk S.A. We believe having control over the commercial and technical management provides us with a competitive advantage over many of our competitors by allowing us to more closely monitor our operations and to offer higher quality performance, reliability and efficiency in arranging charters and the maintenance of our vessels. We also believe that these management capabilities contribute significantly in maintaining a lower level of vessel operating and maintenance costs.

We obtain chartering and brokering services from Interchart, an entity affiliated with our Chief Executive Officer, of which we own 33%. We believe having an influence over the chartering and brokering services provides us with a competitive advantage over many of our competitors by allowing us to obtain profitable rates and retain flexibility in the employment of our vessels.


Overall company Market Share Q4 2020

Overall company, revenue fell by -15.6 % and company lost market share, to approximate 16.12 %.

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*Market share calculated with total revenue.

SBLK's vs. Competition, Data

(Revenue and Income for Trailing 12 Months, in Millions of $, except Employees)

Star Bulk Carriers Corp 693 2,236 10 150
Genco Shipping and Trading Limited 345 680 -103 1,530
Seacor Holdings Inc 754 968 23 4,901
Navios Maritime Holdings Inc 417 0 -189 491
Navios Maritime Partners L p 227 0 -69 1
Safe Bulkers Inc 404 0 -13 692
Sfl Corporation Ltd 471 866 -224 7
Capital Product Partners L p 141 0 30 1
Golden Ocean Group Limited 608 1,339 -138 25
Ultrapetrol Bahamas Ltd 0 0 0 1,614
Whole Earth Brands Inc 272 0 31 0
Tsakos Energy Navigation Limited 644 0 27 1
Newlead Holdings Ltd. 0 0 0 40
Paragon Shipping Inc. 0 0 0 2
Caspian Services Inc 26 0 10 400
Euroseas Ltd 53 0 4 6
International Shipholding Corp 0 0 0 458
Pangaea Logistics Solutions Ltd 417 168 26 408
Scorpio Bulkers Inc 22 1,393 45 4
Eagle Bulk Shipping Inc 297 558 -22 900
Sino global Shipping America Ltd 6 19 -18 20
SUBTOTAL 5,797 8,226 -569 11,651


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