Star Bulk Carriers reported strong second quarter 2026 results, with voyage revenues of $357.4 million and net income of $144.9 million, or $1.30 per diluted share. The performance marks the company's most profitable quarter since the second quarter of 2022, driven by a significant year-over-year increase in charter rates.
Key Highlights
- The company declared a quarterly dividend of $0.90 per share, surpassing analyst expectations of $0.80 and marking its 22nd consecutive dividend payment.
- Second quarter daily Time Charter Equivalent (TCE) rate surged to $24,486, an 80% increase from $13,624 in the same quarter last year.
- During the quarter, Star Bulk took delivery of three newbuilding Kamsarmax vessels and sold three older vessels, continuing its fleet renewal program.