Star Bulk Carriers’ investment plans following the termination of an agreement with Diana Shipping to acquire 16 ships from Genco, in the event that Diana had acquired the company, have been revealed by Star Bulk Chairman Hamish Norton.Star Bulk, controlled by Greek shipowner Petros Pappas, is one of the world’s largest operators of bulk carriers and is listed on the U.S. stock market. According to Norton, the agreement with Diana Shipping was not intended to remain open indefinitely, as conditions in the shipping asset market can change.He left the door open to a new agreement in the future, while making clear that any such deal would have to reflect market conditions at that time.Regarding investments, Norton stressed that with prices for both newbuildings and secondhand vessels at elevated levels, the shipping asset market is currently a less attractive option.Share-for-share transactions could become feasible if Star Bulk’s stock were to approach its net asset value, or if the transaction involved another listed company trading at a similar or greater valuation discount. Such a “tactic” is commonly used by Pappas in the major deals he closes.Star Bulk’s shares are currently trading close to their year-to-date high, at around 30 dollars per share, giving the company a market capitalization of approximately 3.34 billion dollars. The company’s enterprise value is currently estimated at more than 4 billion, according to Yahoo Finance data.Star Bulk took delivery of three Kamsarmax newbuildings during the second quarter. Two more vessels are expected to be delivered in the third quarter, followed by three in the fourth quarter of 2026.Once all deliveries are completed, the company is expected to operate a fleet of 138 vessels, with total capacity of approximately 13.8 million dwt.