Shipping is still in a bad situation w companies like this one still levying large impairment costs(writing down the value) of their ships-emphasis added
Star Bulk Carriers Corp. Reports Financial Results for the Third Quarter and Nine Months Ended September 30, 2012
Press Release : Star Bulk Carriers Corp. – Fri, Nov 30, 2012 8:30 AM EST ATHENS, GREECE--(Marketwire - Nov 30, 2012) - Star Bulk Carriers Corp. (the "Company" or "Star Bulk") ( NASDAQ : SBLK ), a global shipping company focusing on the transportation of dry bulk cargoes, today announced its unaudited financial and operating results for the three and the nine months ended September 30, 2012.
For the third quarter 2012, Star Bulk reported a net loss of $308.7 million mainly due to a non-cash impairment charge of $303.2 million related to the total fleet of our eight Supramax vessels and to our oldest Capesize vessel . Adjusted net loss for the third quarter 2012 amounted to $3.8 million
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