Delivering on past guidance, we judged the timing was appropriate to implement fleet growth and renewal plans. As such, we agreed to acquire three Capesize vessels, two newbuildings and one second-hand, representing a whopping 57% of our current deadweight or 27% in terms of number of vessels.The newbuilding prices achieved were the lowest in the recent years, and both second-hand and newbuilding values have increased significantly following our acquisitions, showing the correct timing of the acquisitions.
Star Bulk Carriers Corp. Q1 2010 Earnings Call Transcript
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